<SEC-DOCUMENT>0001554855-22-000140.txt : 20220314
<SEC-HEADER>0001554855-22-000140.hdr.sgml : 20220314
<ACCEPTANCE-DATETIME>20220311181919
ACCESSION NUMBER:		0001554855-22-000140
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20220311
FILED AS OF DATE:		20220314
DATE AS OF CHANGE:		20220311

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:		22734555

	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>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">UNITED STATES</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Washington, D.C. 20549</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 15pt; font-weight: bold;">Form 6-K</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Report </font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">o</font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">f Foreign Private Issuer</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">Pursuant </font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">t</font><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">o Rule 13a-16 Or 15d-16 Of</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 12.5pt; font-weight: bold;">The Securities Exchange Act Of 1934</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">For the month of </font><font style="font-family: 02lfl; font-size: 9pt;">Ma</font><font style="font-family: 02lfl; font-size: 9pt;">rch</font><font style="font-family: 02lfl; font-size: 9pt;"> 20</font><font style="font-family: 02lfl; font-size: 9pt;">2</font><font style="font-family: 02lfl; font-size: 9pt;">2</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Commission File Number: </font><font style="font-family: 02lfl; font-size: 9pt;">001-14950</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 14.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 26nbvtokfgfhjcu,Bold; font-size: 14.5pt; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="margin: 0pt;padding-bottom: 1pt;text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">(Translation of Registrant&#8217;s Name into English)</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Brigadeiro Luis </font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Antonio</font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;"> Avenue</font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">, 1343, 9</font><font style="font-family: 33dgm,Bold; font-size: 6pt; font-weight: bold; vertical-align: super;">th</font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">Floor</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 33dgm,Bold; font-size: 9pt; font-weight: bold;">S&#227;o Paulo, SP, Brazil 01317-910</font></p>
<p style="margin: 0pt;padding-bottom: 1pt;text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">(Address of Principal Executive Offices)</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">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: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Form 20-F </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt;"> </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">Form 40-F</font><font style="font-family: 02lfl; font-size: 9pt;"> ________</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">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: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Yes </font><font style="font-family: 02lfl; font-size: 9pt;">________ </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">No </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">____</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">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: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">Yes </font><font style="font-family: 02lfl; font-size: 9pt;">________ </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 02lfl; font-size: 9pt;">No </font><font style="font-family: 02lfl; font-size: 9pt;">____</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">X</font><font style="font-family: 02lfl; font-size: 9pt; text-decoration: underline;">____</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: center;"><font style="font-family: 02lfl; font-size: 9pt;">&nbsp;</font></p>
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<p style="font-size: 13pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 13pt; font-weight: bold;">ULTRAPAR HOLDINGS INC.</font></p>
<p style="font-size: 13pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 13pt; font-weight: bold;">TABLE OF CONTENTS</font></p>
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<td style="height: 44px; width: 740px;"><font style="font-family: &quot;times new roman&quot;, times; font-size: 10pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="TOC"></a></font>
<h4 style="vertical-align: middle; text-align: left;"><font style="text-decoration: underline; font-family: &quot;times new roman&quot;, times; font-size: 10pt;">ITEM</font></h4>
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<td style="height: 17px; width: 740px; padding: 0px 0px 0px 25px;"><font style="font-family: &quot;times new roman&quot;, times; font-size: 10pt;"><a href="#Bx1_B6LA8HN1S000000000000000000000">1. Shareholders&#8217; Meeting Manual</a></font></td>
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<td style="height: 17px; width: 740px; padding: 0px 0px 0px 25px;"><font style="font-family: &quot;times new roman&quot;, times; font-size: 10pt;"><a href="#Bx2_BWUL15Z48W00000000000000000000">2. Remote voting form &#8211; Annual General Shareholders&#8217; Meeting</a></font></td>
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<td style="height: 17px; width: 740px; padding: 0px 0px 0px 25px;"><font style="font-family: &quot;times new roman&quot;, times; font-size: 10pt;"><a href="#Bx3_IOR35D7PJ400000000000000000000">3. Remote voting form &#8211; Extraordinary Shareholders&#8217; Meeting</a></font></td>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<p style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 8pt;"><br></p>
<p style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><img src="imgc0902db514d644288143.jpg" alt="Graphics"></p>
<p style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 11pt;">&nbsp;</font></p>
<div style="font-size: 20pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bx1_B6LA8HN1S000000000000000000000" class="customBookmark"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 20pt; font-weight: bold;">Shareholders&#8217; Meeting Manual</font></a></div>
<p style="font-size: 20pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 20pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 20pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 20pt; font-weight: bold;">Annual and Extraordinary General Shareholders&#8217; Meeting</font></p>
<p style="font-size: 16pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;">of April</font><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;"> 13</font><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;">,</font><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;"> 2022</font></p>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 10pt; font-weight: bold;">Digital-only meeting</font></p>
<p style="font-size: 16pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 16pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
&#8203;
<p style="font-size: 16pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #002658; font-family: 'Century Gothic'; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
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<div style="width: 8.5in; margin: 0 auto;">&#8203;&#8203;
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding: 0px 0px 5px 10px; margin: 0px; text-indent: 0px; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); width: 93.9951%; height: 10px;"><a href="#Ba1_FWC5FDMQ8000000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;font-weight: bold;">Message from the Chairman of the Board of Directors</font></a></td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding: 0px 0px 5px 10px; margin: 0px; text-indent: 0px; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); border-right: 1pt solid rgb(0, 0, 0); width: 93.9951%; height: 10px;"><a href="#Ba22_XJ8MI5GTKG00000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;font-weight: bold;">Invitation letter</font></a></td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
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<td style="padding: 0px 0px 5px 10px;margin: 0px;text-indent: 0px;border-bottom: 1px solid rgb(0, 0, 0);border-left: 1px solid rgb(0, 0, 0);border-right: 1px solid rgb(0, 0, 0);width: 93.9951%;height: 10px;"><a href="#Ba3_FF60YJJZ5S00000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;font-weight: bold;">Call Notice</font></a></td>
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<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding: 0px 0px 5px 10px; margin: 0px; text-indent: 0px; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); border-right: 1pt solid rgb(0, 0, 0); width: 93.9951%; height: 10px;"><a href="#Ba4_N9DH04LX2O00000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;font-weight: bold;">Additional procedures</font></a></td>
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<td style="padding: 0px 0px 5px 20px;margin: 0px;text-indent: 0px;border-bottom: 1px solid rgb(0, 0, 0);border-left: 1px solid rgb(0, 0, 0);border-right: 1px solid rgb(0, 0, 0);width: 93.9951%;height: 10px;"><a href="#BEIV_TTQ9564BPC00000000000000000000"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Exhibit IV - Allocation of net income proposal for the fiscal year, pursuant to Annex 9-1-II of CVM Instruction 481/09</font></a></td>
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<td style="padding: 0px 0px 5px 20px; margin: 0px; text-indent: 0px; border-bottom: 1pt solid rgb(0, 0, 0); border-left: 1pt solid rgb(0, 0, 0); border-right: 1pt solid rgb(0, 0, 0); width: 93.9951%; height: 10px;"><a href="#Bex5_LQZC67YKZK00000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;">Exhibit V - Information regarding the candidate for member of the Board of Directors and the candidates for the Fiscal Council appointed or supported by the management, pursuant to items 12.5 to 12.10 of the Reference Form</font></a></td>
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<td style="padding: 0px 0px 5px 20px;margin: 0px;text-indent: 0px;border-bottom: 1px solid rgb(0, 0, 0);border-left: 1px solid rgb(0, 0, 0);border-right: 1px solid rgb(0, 0, 0);width: 93.9951%;height: 10px;"><a href="#BEVI_NL4J6CXNYO00000000000000000000"><font style="font-family: 'Century Gothic';font-size: 9pt;">Exhibit VI - Information about the management compensation, under the terms of item 13 of the Reference Form</font></a></td>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<div style="margin: 3.15pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba1_FWC5FDMQ8000000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS</font></a></div>
<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #404040; font-family: 'Century Gothic'; font-size: 10pt;">&nbsp;</font><font style="color: #404040; font-family: 'Century Gothic'; font-size: 10pt;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Dear Shareholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The year of 2021 was one of significant transformations for the Ultra Group.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz, Ultracargo and Oxiteno registered record results and profitability in 2021. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and Extrafarma, in turn, had lower results in the first semester and, even with an improvement in their operations during the second semester, they didn&#8217;t reach desired levels of profitability. In this sense, we have implemented a series of operational changes and adjustments geared towards recovering </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> trajectory of profitable growth over the course of 2022 and 2023.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We made significant progress in our portfolio review strategy, with the signing of the sale agreements of Oxiteno and Extrafarma (still pending </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">their respective closings</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), in addition to the conclusion of the sale of our equity interest in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ConectCar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">It&#8217;s worth mentioning the significant renovation of our management and governance structure carried out in 2021, strengthening the pillars for Ultra Group&#8217;s progress and perpetuity. In April, three new members were elected to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Board of Directors, adding even more experience and skills to the Company. The succession of the executive leadership position of Ultra Group and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> was also carried out, as well as the establishment and subsequent beginning of the process for the succession plan to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Chairman of the Board of Directors, with the conclusion being expected for April 2023. In addition, we also highlight the renewal of the group of managers of Ultra Group and its businesses.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At the same time, we consolidated our sustainability strategy, which became an intrinsic part of the Company's strategic plan, strengthening the integrated view in the decision-making process, considering financial, social, environmental and corporate governance topics. Another highlight is the establishment of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Sustainability and Corporate Affairs executive position, in March 2021.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar enters 2022 strengthened to increase long-term value creation for its shareholders and other stakeholders and ready for a new cycle of growth.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We invite all our shareholders to participate in our meeting, whose details regarding attendance</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and representation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, as well as the necessary information for voting decisions, may be found throughout this Meeting Manual</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Dear Shareholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">It is a pleasure to invite you to participate in the Annual and Extraordinary General Shareholders' Meeting ("Meeting") of Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participa&#231;&#245;es</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A. ("Ultrapar"), to be held on </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">April 13, 2022, at 2:00 pm (Brazil time), exclusively in digital form</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, pursuant to the terms of the respective call notice.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">All Ultrapar shareholders (including holders of common shares in the form of ADRs) will be able to vote on all matters o</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">f</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the agenda. Each common share gives the right to one vote in the Meeting&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">resolutions</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. ADR holders must vote as determined in a communication to be released by the depositary under the terms of the deposit agreement.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">This document aims to clarify and guide the resolutions to be taken and the procedures necessary for your attendance or representation in the Meeting.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Investor Relations department is available for further clarification on the e-mail </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">invest@ultra.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> or by phone +55 11 3177-7014.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We count on your participation,</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Publicly</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Traded</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">CNPJ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">No.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 33.256.439/0001-39&nbsp;&nbsp; </font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> NIRE 35.300.109.724</font></p>
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<div style="line-height: 12pt; margin: 0pt 0pt 6pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba3_FF60YJJZ5S00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Call Notice</font></a></div>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ANNUAL AND EXTRAORDINARY GENERAL SHAREHOLDERS&#8217; MEETING</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Shareholders of Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participa&#231;&#245;es</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A. (&#8220;Ultrapar&#8221; or &#8220;Company&#8221;) are hereby invited to attend the Annual and Extraordinary General Shareholders&#8217; Meeting that shall be held on April 13, 2022, at 2:00 p.m.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (Brazil time)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, exclusively in digital form, pursuant to the terms of CVM Instruction 481/09, as amended, and by CVM Instruction 622/20 (&#8220;ICVM 481&#8221;), without prejudice of use of remote voting form (&#8220;Meeting&#8221;), to discuss the following Agenda</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">In Annual General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Analysis and approval of the report and accounts of the Management, as well as the financial statements of the fiscal year ended on </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, together with the report from the Independent Auditors and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">report</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">from the Fiscal </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Allocation of net income for the fiscal year ended on </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Establishment of the Management's global </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4. Election of the members of the Fiscal Council and respective alternates, given the request for the installation of the Fiscal Council made by a shareholder representing more than 2% (two percent) of the voting shares issued by the Company, under the terms of Law No. 6,404/76 and CVM Instruction 324/00; and</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5. Considering the item above, the establishment of the compensation of the members of the Fiscal Council for the term of office that begins in April 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">In Extraordinary General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Change of the number of members that integrate the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Election of member of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Resolution</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> on the following amendments to the Company&#8217;s Bylaws as de</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tailed</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in the Management Proposal disclosed to the market on this date</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 54pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">change in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the percentage of independent members of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 54pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">change in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the composition of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">advisory</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">committees</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 54pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">adaptation of the statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">provisions </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">applicable to the Audit and Risks Committee, in order to ad</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ap</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">t it to the requirements of CVM Resolution 23/21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 54pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">reduction of the percentage of net income to be allocated to the payment of mandatory dividends to shareholders, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">along </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">with the consequent adjustment in the percentage to be allocated to the investment reserve</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ratif</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ication on</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the change in the number of common shares into which the Company's capital stock is divided, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company as of the approval of the merger of shares issued by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Imifarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Produtos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Farmac&#234;uticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> e </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cosm&#233;ticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A. by the Company, approved by the Extraordinary General Shareholders&#8217; Meeting held on January 31, 2014</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 12pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Approval of the consolidation of the Bylaws, in order to reflect the changes proposed in the items above</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Attendance at the Meeting</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The shareholders, including holders of American Depositary Receipts (&#8220;ADRs&#8221;), of the Company may attend the Meeting in person or represented by proxies, upon the fulfillment of the requirements for attendance provided for in the Company&#8217;s Bylaws, presenting the documents listed under items Individual Shareholder, Corporate Shareholder and Investment Funds below. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shareholder capacity will be evidenced upon submi</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ssion</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the statement issued by the institution providing book-entry services or the custodian institution, with the number of shares included therein within up to three (3) days before the Meeting. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company will adopt for this General Shareholders&#8217; Meeting the remote voting system in accordance with </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM 481, allowing its shareholders to send, through their respective custody agents or bookkeeping institution or directly to the Company, a remote voting form, as provided by the Company together with other documents to be discussed at the Meeting. The Company informs that the instructions for the exercise of the remote voting are described in the Annual and Extraordinary General Shareholders&#8217; Meeting&#8217;s Manual. The remote voting forms submitted by the shareholders by virtue of the first call of the Meeting shall be deemed valid for the second call, pursuant to the terms of ICVM 481.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Meeting shall be exclusively held by digital means, pursuant to the terms of ICVM 481, through a digital platform (&#8220;Platform&#8221;); accordingly, the shareholders shall attend at the Meeting solely by means of the following</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(a) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">through remote voting form, which detailed guidelines with respect to the necessary documentation for remote voting are included in such form; and</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(b) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">through digital platform, in person or by attorney-in-fact duly appointed, and the shareholder: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) may solely attend at the Meeting, regardless of the submission of the form; or (ii) attend to and vote at the Meeting; in this case, provided that the eventual votes issued by the shareholder through the remote voting form shall be disregarded</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Holders of ADRs will be represented at the Meeting by the custodian of underlying shares of the ADRs, pursuant to the deposit agreement dated as of September 16, 1999 (&#8220;Deposit Agreement&#8221;). Voting procedures with respect to the ADRs shall be specified in a communication to be sent to ADRs holders by the depositary, pursuant to the Deposit Agreement</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Under the terms of ICVM 481, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in order to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> obtain the Company's authorization for virtual participation in the Meeting through the Platform, shareholders or their legal representatives or attorneys-in-fact must send an </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">e-mail</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to the Company at invest@ultra.com.br, on or before 2:00 pm </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(Brazil time) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">on April 11, 2022, requesting participation, specifying the contact phone number and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">e-mail</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> address of the participant, and submitting the documents listed below</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Individual Shareholder</font></p>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 21.25pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Copy of ID document with photograph (ID, driver</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8217;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s license, foreign national&#8217;s residence ID, officially recognized professional class ID or passport, for foreigners); and</font></li>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 21.25pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Copy of the power of attorney, if applicable, and identification document with picture of the attorney-in-fact</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Corporate Shareholder</font></p>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; list-style-position: inside; margin: 0pt 0pt 6pt 21.25pt; text-align: justify; text-indent: -7.65pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Copy of the last restated bylaws or articles of association and the corporate documents granting representation powers (officers&#8217; election minutes and/or power of attorney</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; list-style-position: inside; margin: 0pt 0pt 6pt 21.25pt; text-align: justify; text-indent: -7.65pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Copy of ID document(s) with picture of the legal representative(s); and</font></li>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 21.25pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Copy of the power of attorney, if applicable, and identification document with picture of the attorney-in-fact</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Investment Funds</font></p>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; list-style-position: inside; margin: 0pt 0pt 6pt 21.3pt; text-align: justify; text-indent: -7.65pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Evidence of capacity as manager of the fund granted to individual or legal entity representing the fund in the Meeting or who granted power to the attorney-in-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">fact</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; list-style-position: inside; margin: 0pt 0pt 6pt 21.3pt; text-align: justify; text-indent: -7.65pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Corporate act of the corporate manager granting powers to the representative attending the Meeting or to whom a power of attorney was granted</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 130%; list-style-position: inside; margin: 0pt 0pt 6pt 21.3pt; text-align: justify; text-indent: -7.65pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">If the representative or attorney-in-fact is a legal entity, the documents listed on item &#8220;Corporate Shareholder&#8221; related to them shall be presented to the Company</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In addition, on an extraordinary basis, the Company may accept that the shareholders submit the necessary representation documents, as referred above, solely in digital means, without registry before the notary office or notarized copies, in PDF format. Ultrapar shall accept the powers of attorneys physically or digitally signed through digital certificate (ICP-Brazil).</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Access to the Platform of shareholders who do not submit the necessary participation documents within the period provided herein will not be admitted.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Upon receipt of the request, accompanied by the necessary documents for the Meeting </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ttendance, the Company shall submit to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">e-mail</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> indicated by the shareholder the link and the instructions to access the Platform to the shareholders or, however the case may be, the legal representatives or attorneys-in-fact thereof. Such information is personal and not transferrable, and shall not be shared, subject to attribution of responsibility. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Ultrapar shall not be responsible for any operational or connection issue faced by the shareholder, legal representative or attorney-in-fact, which would hamper or prevent his/her attendance at the Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> </font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Availability of Documents and Information</font></p>
<p style="font-size: 11pt; line-height: 130%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Under the terms of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Bylaws and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM 481, the documents and information relating to the matters to be deliberated upon, as well as the Annual and Extraordinary General Shareholders&#8217; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Meeting&#8217;s Manual, the remote voting form for Meeting and other relevant documents for the exercise of the voting right at the Meeting were filed with the Brazilian Securities and Exchange Commission (&#8220;CVM&#8221;) and are available at the website of CVM (</font><font style="color: #002060; font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">www.cvm.gov.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), Company&#8217;s head office, website of B3 &#8211; Brasil, Bolsa, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Balc&#227;o</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (</font><font style="color: #002060; font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">www.b3.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) and Company&#8217;s website (</font><font style="color: #002060; font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ri.ultra.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">).</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: center;"><br><br><font style="font-family: 'Century Gothic'; font-size: 9pt;">S&#227;o Paulo, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">March 11,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2022.</font></p>
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<div style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba4_N9DH04LX2O00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 10pt; font-weight: bold;"> <font lang="PT-BR" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', 'sans-serif'; color: #000000;">ADDITIONAL PROCEDURES</font> </font></a></div>
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<p style="font-size: 9pt; line-height: 130%; margin: 6pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar, aiming to facilitate the representation of its shareholders at the Meeting (excluding holders of common shares in the form of ADRs), provides in the end of this Manual a power-of-attorney model, through which shareholders may appoint the lawyers thereby indicated to represent them at the Meeting, at no cost and strictly in accordance with the powers granted. To the extent shareholders (excluding holders of common shares in the form of ADRs) opt to be represented at the Meeting using the model provided by the Company, the power of attorney must include </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">all</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the attorneys-in-fact listed in the draft of the power-of-attorney</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Meeting shall be exclusively held by digital means, pursuant to the terms of ICVM 481, through a digital platform (&#8220;Platform&#8221;); accordingly, the shareholders shall attend the Meeting solely by means of the following</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(a) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">through remote voting form, which detailed guidelines with respect to the necessary documentation for remote voting are included in such form</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(b) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">through digital platform, in person or by attorney-in-fact duly appointed, and the shareholder: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) may solely attend the Meeting, regardless of the submission of the form; or (ii) attend and vote at the Meeting; provided that, in this case, the eventual votes issued by the shareholder through the remote voting form shall be disregarded</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company may accept that the shareholders submit the necessary representation documents, as referred on the Call Notice, in digital means in PDF format, without registry before the notary office or notarized copies. Ultrapar shall accept the proxies physically or digitally signed through digital certificate (ICP-Brazil)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 6pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We clarify that in the case of non-Brazilian investment funds and shareholders, a sworn translation of the documents shall not be required if the documents are originally in English or Spanish</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Pursuant to the terms of article 5, paragraph 3, of ICVM 481, the Platform shall not be accessed by the shareholders that have not provided the necessary documents specified in the Call Notice within the deadlines set forth on that document</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Upon receipt of the request, accompanied by the necessary documents for the Meeting attendance, the Company shall submit to the email indicated by the shareholder the link and the instructions to access the Platform to the shareholders or, however the case may be, the legal representatives or attorneys-in-fact. Such information is personal and not transferrable, and shall not be shared, subject to attribution of responsibility</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The shareholder who participates through Platform will be considered present at the Meeting, being able to exercise his/her respective voting rights, and sign the respective Minutes of the Meeting, pursuant to ICVM 481</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">If the shareholder who has duly requested his/her participation does not receive from the Company the email with instructions for accessing and participating in the Meeting at least 24 hours prior to the Meeting (that is, until 2:00 p.m. o</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">f</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> April 12, 2022), he/she must contact the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company by phone on number +55 (11) 3177-7014, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in order to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> receive (by telephone or email) their respective instructions to access</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar shall not be responsible for any operational or connection issue faced by the shareholder, legal representative or attorney-in-fact, which would hamper or prevent his/her attendance to the Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Additionally, the Company asks for shareholders who will participate through the Platform to access the Platform at least thirty (30) minutes in advance of the time scheduled for the beginning of the Meeting in order to allow the validation of the access</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company reserves the right to use any information contained in the recording of the Meeting to: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) registration of the shareholders&#8217; statements and also for viewing the documents presented during the Meeting; (ii) registration of the authenticity and safety of communications during the Meeting; (iii) registration of the shareholders' attendance and votes; (iv) compliance with any legal orders from competent authorities; and (v) safeguard of the Company, its administrators and contracted third parties, in any judicial, arbitration, regulatory or administrative sphere</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Remote Voting Forms</font></p>
<p style="font-size: 11pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">If the shareholder opts to send the remote voting form directly to the Company, he/she is requested </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to send</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> such voting form and other supporting documents to the e-mail </font><font style="color: #0563c1; font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">invest@ultra.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> or be filed at the Company within 7 days from the Annual and Extraordinary General Shareholders&#8217; Meeting date, that is, until April </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Publicly</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Traded</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Company</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">CNPJ </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">No.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> 33.256.439/0001-39&nbsp;&nbsp; </font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> NIRE 35.300.109.724</font></p>
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<div style="line-height: 12pt; margin: 0pt 0pt 6pt; text-align: center;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba5_WEC7TGHD4W00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">MANAGEMENT&#8217;S PROPOSAL</font></a></div>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Dear Shareholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Management of Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participa&#231;&#245;es</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A. (&#8220;Ultrapar&#8221; or &#8220;Company&#8221;) hereby presents the Management Proposal, regarding the matters to be decided at the Annual and Extraordinary General Shareholders&#8217; Meeting, to be held on April 13, 2022, at 2:00 p.m</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (Brazil time)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">1)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">In the Annual General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">1.1) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Analysis and approval of the report and accounts of the Management, as well as the financial statements of the fiscal year ended on December 31, 2021, together with the report from the Independent Auditors and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">report</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">from the Fiscal Council</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Management&#8217;s Report and financial statements for the fiscal year ended on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> were filed with the Brazilian Securities and Exchange Commission - CVM on February 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and published in wide-circulation newspapers on February 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2, pursuant to Law No. 6,404/76, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as amended by</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Law No. 13,818/19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. The Management's Report summarizes relevant information about the Company in 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, including environmental, social and governance performance (ESG), information on innovation, people, operational and financial performance</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Such documents (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) were recommended by the Audit and Risks Committee for approval by the Board of Directors; (ii) obtained a favorable opinion from the Company's Fiscal Council at a meeting held on February 23, 2022, the respective minutes of which were filed with the CVM on February 24, 2022; and (iii) were approved by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Board of Directors.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In addition, the financial statements were audited and obtained an unqualified report by KPMG </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Auditores</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Independentes</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Such documents are available in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit II</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to this Proposal. Management&#8217;s comments on the financial situation of the Company, pursuant to item 10 of the Reference Form, can be found in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit III</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approval of the Management&#8217;s Report and accounts, as well as the Company's financial statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">1.2) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Allocation of net income for the fiscal year ended on December 31, 2021</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Management proposes that the allocation of net income attributable to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Shareholders for the year ended on December 31, 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, in the amount of R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">850,463,948.89 (eight hundred and fifty million, four hundred and sixty-three thousand, nine hundred and forty-eight Reais and eighty-nine cents of Real), be as follows</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">42</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">523</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">197</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">44 (forty-two million, five hundred and twenty-three thousand, one hundred and ninety-seven Reais and forty-four cents of Real) will be allocated to the legal </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">reserve</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">403,970,375.73 (four hundred and three million, nine hundred and seventy thousand, three hundred and seventy-five Reais and seventy-three cents of Real) will be allocated to the statutory reserve for investments; and</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">403,970,375.73 (four hundred and three million, nine hundred and seventy thousand, three hundred and seventy-five Reais and seventy-three cents of Real) will be allocated to the payment of dividends to holders of common shares</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, equivalent </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">37040 p</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">er share</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We provide</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">d</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> detailed information regarding the proposal for allocation of net income for the fiscal year ended on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit IV</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, under the terms of ICVM 481</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: approval of the net income allocation proposed</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">1.3) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Establishment of the Management's global compensation</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The proposal for the annual aggregate limit on Management compensation for the period between May 2022 and April 2023 is </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">95</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ninety-five million Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of which R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">12,000,000.00 (twelve million Reais) for members of the Board of Directors, and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">83</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">eighty-three million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Reais) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">for members of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Board, including </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">194</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">831</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">81 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">twenty-eight million, one hundred and ninety-four thousand, eight hundred and thirty-one Reais and eighty-one cents of Real</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">for expenses with stock-based compensation plan and post-employment benefit</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The proposed amount is 22% higher than the amount of R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">78,000,000.00 (seventy-eight million Reais)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approved by the Annual and Extraordinary General Shareholders&#8217; Meeting held on April 14, 2021 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8220;2021 Meeting&#8221;), for the period from May 2021 to April 2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Such increase arises from </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the increase in the variable portion and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> stock-based plan in the composition of the compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">reinforcing the alignment of interests between executives and shareholders </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">for long-term value creation </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (ii) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">periodic </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">re</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">adjustment for inflation, market conditions and meritocracy</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The aggregate compensation actually realized in the period between May 2021 and April 2022 is estimated at an amount </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">12% </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">lower than that approved by the shareholders at the 2021 Meeting, mainly due to (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) the change in the Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Board</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, which generated a reversal of expenses with the stock option plan, and the temporary reduction in the average number of members of such body</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> compared to the amount </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approved</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, and (ii) variable compensation amounts below the maximum estimated amount, aligned with the results below expectations at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For a better understanding of the rationale for this Proposal, we provide detailed information about Management's compensation policies and practices in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit VI</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, under the terms of item 13 of the Reference Form</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ec</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approval of the proposal of Management&#8217;s compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">1.4) Election of the members of the Fiscal Council and respective alternates, given the request for the installation of the Fiscal Council made by a shareholder representing more than 2% (two percent) of the voting shares issued by the Company, under the terms of Law No. 6,404/76 and CVM Instruction 324/00</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We propose the election of the following candidates as members to the Company's Fiscal Council, as well as their alternates:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- Fl&#225;vio Cesar Maia Luz (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) / M&#225;rcio Augustus Ribeiro (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">alternate</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- Geraldo </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Toffanello</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) / Pedro Ozires </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Predeus</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">alternate</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- Nilson Martiniano Moreira (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) / Sandra Regina de Oliveira (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">alternate</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The detailed information regarding the candidates is available in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit V</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, items 12.5 to 12.10 of the Reference Form.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: approval of candidates to members of the Fiscal Council.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">1.5)</font><font style="font-family: Calibri; font-size: 11pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Considering the item above, the establishment of the compensation of the members of the Fiscal Council for the term of office that begins in April 2022</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Management proposes the approval of the aggregate compensation of the Fiscal Council members for their term of office (between May 2022 and April 2023) in the amount of R$ 67,988.00 (sixty-seven thousand, nine hundred and eighty-eight Reais) per month, being R$ 29,138.00 (twenty-nine thousand, one hundred and thirty-eight Reais) per month for the president of the Fiscal Council, and R$ 19,425.00 (nineteen thousand, four hundred and twenty-five Reais) per month for the other members. The proposed amount is 5% higher than the amount approved at the 2021 Meeting, for the period between May 2021 and April 2022. The proposed increase aims to bring the body&#8217;s compensation closer to market benchmark, according to research that includes companies in size, complexity and performance comparable to Ultrapar. The aggregate compensation for members of the Fiscal Council </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">recorded</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in such period was in line with the approved amount.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For further information on compensation for the Board of Directors, the Statutory and Non-Statutory Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Board</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and the Fiscal Council, see </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit VI </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(item 13 - Compensation of Managers). We highlight that the amounts included in this compensation proposal differ from those of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit VI</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> as a result of different reference periods of the documents</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approval of the proposal of Fiscal Council compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -18pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">2)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">In the Extraordinary General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">:</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">2.1) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Change of the number of members that integrate the Board of Directors</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Consider</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the resolution deliberated upon by the Annual and Extraordinary General Shareholders&#8217; Meeting held on April 14, 2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">that the Board of Directors, for the current term, shall be comprised of 11 members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, (ii) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the provision of the Company's Bylaws that determines that the Board of Directors </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">shall be comprised</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of at least </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">five </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) an</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">d</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> at m</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">aximum</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> eleven</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (11)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> members, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">all of whom shall be elected and removable at the Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (iii) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the succession plan of the Board of Directors disclosed through a Material Notice on September 22, 2021, which will take effect in April 2023,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the Management proposes the change of the number of members that integrate the Board of Directors for this mandate, from eleven (11) to ten (10) members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: approval of the reduction from 11 to 10 members of the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">2.2) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Election of member of the Board of Directors</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Pursuant to article 27 of the Company's Bylaws currently in force, in the event of a vacancy in a position of member of the Board of Directors, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">substitute </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">shall be appointed by the remaining directors and shall hold the office until the subsequent Shareholders&#8217; Meeting, at which a new director shall be elected for </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">remaining term of office of the replaced dire</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tor.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In this sense, considering that Mr. Frederico Pinheiro Fleury Curado was appointed by the Board of Directors to occupy the position previously held by Mr. Lucio de Castro Andrade Filho, the Management proposes the election of Mr. Frederico Pinheiro Fleury Curado, continuing his work on the Company's Board of Directors, with a </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">mandate </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">for the remaining </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">term</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the other members of the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> currently</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in office, that is, until the Annual Shareholders' Meeting of 2023.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mr. Curado was CEO at Ultrapar for 4 years and had solid experience as CEO at another publicly traded company </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">considered </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a benchmark in Brazil and abroad. His professional career has a </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">focus</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> on innovation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and industrial production</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, careful cost management, the pursuit of competitiveness and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">governance</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The proposal to elect Mr. Curado to the Board of Directors is part of the succession plan for the leadership of the Company's Board of Directors, as announced in the Material Notice mentioned above</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> For more information about Mr. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Curado&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> professional experience, see </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit V</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: approval of the appointment of Mr. Frederico Pinheiro Fleury Curado as a member of the Company's Board of Directors.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">2.3) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Resolution on the following amendments to the Company&#8217;s Bylaws as detailed in this Management Proposal</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Management proposes the approval of the changes to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Bylaws, as described in the following items</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify; padding-left: 30px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">change in the percentage of independent members of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify; padding-left: 30px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">change in the composition of the advisory committees of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify; padding-left: 30px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">adaptation of the statutory devices applicable to the Audit and Risks Committee, in order to adapt it to the requirements of CVM Resolution 23/21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify; padding-left: 30px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">reduction of the percentage of net income to be allocated to the payment of mandatory dividends to shareholders, with the consequent adjustment in the percentage to be allocated to the investment reserve</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The information related to this item and the justifications for these amendments are available in the comparative table of the Bylaws in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit I </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of this Proposal, pursuant to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM 481.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">Management </font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">r</font><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">ecommendation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: approval of changes of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Bylaws.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">2.4) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Ratification on the change in the number of common shares into which the Company's capital stock is divided, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company as of the approval of the merger of shares issued by </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Imifarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Produtos</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Farmac&#234;uticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> e </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Cosm&#233;ticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> S.A. by the Company, approved by the Extraordinary General Shareholders&#8217; Meeting held on January 31, 2014</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Due to the partial exercise of such warrants on August 11, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and on February 23, 2022, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">74</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">957 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">seventy-four thousand, nine hundred and fifty-seven</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">common shares were issued within the authorized capital limit, as provided for in article 6 of the Company's Bylaws. As a result of such issuance, the Company's capital stock is now represented by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">115</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">151</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">608 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">one billion, one hundred and fifteen million, one hundred and fifty-one thousand, six hundred and eight</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">common </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">shares, all nominative and with no par value. In view that no additional payment is due for the exercise of subscription warrants, the issuance did not result in a change in the stock capital value</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In order to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> reflect the issuances already effected as mentioned above, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the Management</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> also propose</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the ratification of the amendment to the language of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">caput</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of Article 5 of the Company's Bylaws, according to the comparative table of the Bylaws contained in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to this Proposal</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">2.5) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Approval of the consolidation of the Bylaws, in order to reflect the changes proposed in the items above</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Management proposes the consolidation of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Bylaws in order to reflect the modifications described in items </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of this Proposal. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of this document includes the comparative table of the proposed amendments of the Bylaws, in addition to the respective justifications for the said amendments, pursuant to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM 481</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Access to documents and information</font></p>
<p style="font-size: 11pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Under the terms of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Bylaws and ICVM 481</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the documents and information relating to the matters to be approved, including the remote voting ballots for the Annual General Meeting and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extraordinary</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">General Meeting, and any other matters relevant to the exercise of the right to vote at the Meeting, were filed with the CVM, and are available on the CVM website (</font><font style="color: #3333ff; font-family: 'Century Gothic'; font-size: 9pt;">www.cvm.gov.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), at the Company's headquarters, on the B3 website (</font><font style="color: #3333ff; font-family: 'Century Gothic'; font-size: 9pt;">www.b3.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) and on the Company website (</font><font style="color: #3333ff; font-family: 'Century Gothic'; font-size: 9pt;">ri.ultra.com.br</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">S&#227;o Paulo, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">March 11,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> 2022.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">PEDRO WONGTSCHOWSKI</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Chairman of the Board of Directors</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<div style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bex1_7UX6DZ0X4W00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit I &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">R</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">eport</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">on</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">source</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">rational</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">for the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">proposed</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">amendment</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">B</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ylaws</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> U</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ltrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">P</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">articipa&#231;&#245;es</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> S.A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font></a></div>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Open Sans'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">BYLAWS</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER I</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Name, Headquarters, Purpose and Term</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 1.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is an authorized capital company (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">sociedade</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;"> de capital </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">autorizado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">). The name of the Company is ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">BYLAWS</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER I</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Name, Headquarters, Purpose and Term</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 1.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is an authorized capital company (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">sociedade</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;"> de capital </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">autorizado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">). The name of the Company is ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">BYLAWS</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER I</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Name, Headquarters, Purpose and Term</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 1.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is an authorized capital company (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">sociedade</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;"> de capital </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">autorizado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">). The name of the Company is ULTRAPAR PARTICIPA&#199;&#213;ES S.A.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph. The Company&#8217;s listing on the New Market (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">Novo Mercado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) special segment of B3 S.A. &#8211; Brasil, Bolsa, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Balc&#227;o</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> (&#8220;B3&#8221;) subjects the Company, its shareholders including controlling shareholders, if applicable, its management and members of the Fiscal Council, if installed, to the Regulations of the New Market of B3 (&#8220;New Market Regulation&#8221;).</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph. The Company&#8217;s listing on the New Market (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">Novo Mercado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) special segment of B3 S.A. &#8211; Brasil, Bolsa, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Balc&#227;o</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> (&#8220;B3&#8221;) subjects the Company, its shareholders including controlling shareholders, if applicable, its management and members of the Fiscal Council, if installed, to the Regulations of the New Market of B3 (&#8220;New Market Regulation&#8221;).</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph. The Company&#8217;s listing on the New Market (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; letter-spacing: 0.8pt;">Novo Mercado</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) special segment of B3 S.A. &#8211; Brasil, Bolsa, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Balc&#227;o</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> (&#8220;B3&#8221;) subjects the Company, its shareholders including controlling shareholders, if applicable, its management and members of the Fiscal Council, if installed, to the Regulations of the New Market of B3 (&#8220;New Market Regulation&#8221;).</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 2.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s headquarters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">jurisdiction </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">are located in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the city of S&#227;o Paulo, State of S&#227;o Paulo.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 2.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s headquarters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">jurisdiction </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">are located in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the city of S&#227;o Paulo, State of S&#227;o Paulo.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 2.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s headquarters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">jurisdiction </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">are located in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the city of S&#227;o Paulo, State of S&#227;o Paulo.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 3.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The purpose of the Company is to invest its own capital in commerce, industry, agriculture and service provision, through the subscription or acquisition of shares or quotas of other companies.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 3.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The purpose of the Company is to invest its own capital in commerce, industry, agriculture and service provision, through the subscription or acquisition of shares or quotas of other companies.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 3.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The purpose of the Company is to invest its own capital in commerce, industry, agriculture and service provision, through the subscription or acquisition of shares or quotas of other companies.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 4.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is organized for an indefinite term.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 4.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is organized for an indefinite term.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 4.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is organized for an indefinite term.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER II</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Capital Stock and Shares</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: bold; letter-spacing: 0.8pt;">Article 5.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; letter-spacing: 0.8pt;">The subscribed and paid-in capital stock is R$ 5,171,751,608.08 (five billion, one hundred seventy-one million, seven hundred fifty-one thousand, six hundred and eight Reais and eight cents), represented by one billion, one hundred and fifteen million, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; letter-spacing: 0.8pt;">seventy six</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; letter-spacing: 0.8pt;"> thousand, six hundred and fifty one (1,115,076,651) nominative common shares, with no par value, and with no issuance of preferred shares or founder&#8217;s shares permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER II</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Capital Stock and Shares</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 5.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The subscribed and paid-in capital stock is R$ 5,171,751,608.08 (five billion, one hundred seventy-one million, seven hundred fifty-one thousand, six hundred and eight Reais and eight cents), represented by one billion, one hundred and fifteen million, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">one hundred and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">fifty one</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> thousand</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">, six hundred and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">eight </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(1,115,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">151</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">,6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) nominative common shares, with no par value, and with no issuance of preferred shares or founder&#8217;s shares permitted.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER II</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Capital Stock and Shares</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 5.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The subscribed and paid-in capital stock is R$ 5,171,751,608.08 (five billion, one hundred seventy-one million, seven hundred fifty-one thousand, six hundred and eight Reais and eight cents), represented by</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">one billion, one hundred and fifteen million, one hundred and fifty one thousand, six hundred and eight (1,115,151,608)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">one billion, one hundred and fifteen million, seventy six thousand, six hundred and fifty one (1,115,076,651)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">nominative common shares, with no par value, and with no issuance of preferred shares or founder&#8217;s shares permitted.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">Change of wording and to reflect the issuance of shares effective as of </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">August 11, </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">2021</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;"> and February 23, 2022</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">, due to partial exercise of the subscription warrants issued by the Company as of the approval of the merger of shares issued by </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">Imifarma</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">Produtos</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">Farmac&#234;uticos</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;"> e </font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;">Cosm&#233;ticos</font><font style="font-family: 'Open Sans'; font-size: 9pt; letter-spacing: 0.8pt;"> S.A. by the Company, approved by the Extraordinary General Meeting held on January 31, 2014.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">All of the Company shares are in book-entry form and held in a deposit account with a financial institution authorized by the Brazilian Securities and Exchange Commission &#8211; CVM, in the name of their holders, without certificates issued.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">All of the Company shares are in book-entry form and held in a deposit account with a financial institution authorized by the Brazilian Securities and Exchange Commission &#8211; CVM, in the name of their holders, without certificates issued.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">All of the Company shares are in book-entry form and held in a deposit account with a financial institution authorized by the Brazilian Securities and Exchange Commission &#8211; CVM, in the name of their holders, without certificates issued.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The transfer and record cost, as well as the cost of the services relating to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the book-entry shares, may be charged directly to the shareholder by the bookkeeping institution, as set forth in the stock bookkeeping agreement.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The transfer and record cost, as well as the cost of the services relating to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the book-entry shares, may be charged directly to the shareholder by the bookkeeping institution, as set forth in the stock bookkeeping agreement.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The transfer and record cost, as well as the cost of the services relating to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the book-entry shares, may be charged directly to the shareholder by the bookkeeping institution, as set forth in the stock bookkeeping agreement.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 6.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is authorized to increase its capital stock up to the limit of one billion and six hundred million (1,600,000,000) common shares, by resolution of the Board of Directors, notwithstanding any amendment to the Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 6.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is authorized to increase its capital stock up to the limit of one billion and six hundred million (1,600,000,000) common shares, by resolution of the Board of Directors, notwithstanding any amendment to the Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 6.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company is authorized to increase its capital stock up to the limit of one billion and six hundred million (1,600,000,000) common shares, by resolution of the Board of Directors, notwithstanding any amendment to the Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 7.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The subscription and payment of shares issued by the Company shall follow the criteria provided for in this Article:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 7.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The subscription and payment of shares issued by the Company shall follow the criteria provided for in this Article:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 7.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The subscription and payment of shares issued by the Company shall follow the criteria provided for in this Article:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) up to the limit of the authorized capital, the issuance, amount, price and term for payment of the shares to be issued by the Company shall be provided for by the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) the resolution to increase the capital stock for payment in assets, other than monetary credits, may only be made at a Shareholders&#8217; Meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) upon the issuance of new shares, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">debentures convertible into shares or subscription warrants offered on a stock exchange, public subscription or share exchange in a tender offer for the acquisition of corporate control, the Board of Directors may waive the preemptive rights of the former shareholders or reduce the period for the exercise thereof.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) up to the limit of the authorized capital, the issuance, amount, price and term for payment of the shares to be issued by the Company shall be provided for by the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) the resolution to increase the capital stock for payment in assets, other than monetary credits, may only be made at a Shareholders&#8217; Meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) upon the issuance of new shares, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">debentures convertible into shares or subscription warrants offered on a stock exchange, public subscription or share exchange in a tender offer for the acquisition of corporate control, the Board of Directors may waive the preemptive rights of the former shareholders or reduce the period for the exercise thereof.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) up to the limit of the authorized capital, the issuance, amount, price and term for payment of the shares to be issued by the Company shall be provided for by the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) the resolution to increase the capital stock for payment in assets, other than monetary credits, may only be made at a Shareholders&#8217; Meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) upon the issuance of new shares, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">debentures convertible into shares or subscription warrants offered on a stock exchange, public subscription or share exchange in a tender offer for the acquisition of corporate control, the Board of Directors may waive the preemptive rights of the former shareholders or reduce the period for the exercise thereof.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 8.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may grant stock options through stock option plans, approved by a Shareholders&#8217; Meeting, to the management and employees.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 101px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 8.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may grant stock options through stock option plans, approved by a Shareholders&#8217; Meeting, to the management and employees.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 101px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 8.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may grant stock options through stock option plans, approved by a Shareholders&#8217; Meeting, to the management and employees.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 101px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each common share entitles the holder thereof to one vote for resolutions made at the Shareholders&#8217; Meetings.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each common share entitles the holder thereof to one vote for resolutions made at the Shareholders&#8217; Meetings.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each common share entitles the holder thereof to one vote for resolutions made at the Shareholders&#8217; Meetings.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER III</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Shareholders&#8217; Meetings</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: bold; letter-spacing: 0.8pt;">Article 10.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; letter-spacing: 0.8pt;">The annual Shareholders&#8217; Meeting shall be called by the Board of Directors within the first four (4) months upon conclusion of the fiscal year and extraordinary meetings shall be held whenever the Company&#8217;s interest shall so require.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER III</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Shareholders&#8217; Meetings</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 10.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The annual Shareholders&#8217; Meeting shall be called by the Board of Directors within the first four (4) months upon conclusion of the fiscal year and extraordinary meetings shall be held whenever the Company&#8217;s interest shall so require.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER III</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Shareholders&#8217; Meetings</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 10.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The annual Shareholders&#8217; Meeting shall be called by the Board of Directors within the first four (4) months upon conclusion of the fiscal year and extraordinary meetings shall be held whenever the Company&#8217;s interest shall so require.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Documents pertaining to the matters to be deliberated upon at the Shareholders&#8217; Meetings shall be made available to the shareholders, at the Company&#8217;s headquarters, at the date of publication of the first call notice, except if a longer period for making such documents available is otherwise required by law or applicable regulations.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Documents pertaining to the matters to be deliberated upon at the Shareholders&#8217; Meetings shall be made available to the shareholders, at the Company&#8217;s headquarters, at the date of publication of the first call notice, except if a longer period for making such documents available is otherwise required by law or applicable regulations.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 192px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Documents pertaining to the matters to be deliberated upon at the Shareholders&#8217; Meetings shall be made available to the shareholders, at the Company&#8217;s headquarters, at the date of publication of the first call notice, except if a longer period for making such documents available is otherwise required by law or applicable regulations.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall be presided over by the Chairman of the Board of Directors or by whom he/she may designate. In the absence of the Chairman and of his/her designation, the Shareholders&#8217; Meeting shall be presided over by the Vice-Chairman of the Board of Directors, or by whom he/she may </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">designate. The chairman of the Meeting shall choose one of the attendees to act as secretary of the meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall be presided over by the Chairman of the Board of Directors or by whom he/she may designate. In the absence of the Chairman and of his/her designation, the Shareholders&#8217; Meeting shall be presided over by the Vice-Chairman of the Board of Directors, or by whom he/she may </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">designate. The chairman of the Meeting shall choose one of the attendees to act as secretary of the meeting.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall be presided over by the Chairman of the Board of Directors or by whom he/she may designate. In the absence of the Chairman and of his/her designation, the Shareholders&#8217; Meeting shall be presided over by the Vice-Chairman of the Board of Directors, or by whom he/she may </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">designate. The chairman of the Meeting shall choose one of the attendees to act as secretary of the meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The chairman of the Meeting shall have the exclusive power, in compliance with the rules provided for in these Bylaws, to conduct the election of the members of the Board of Directors, including any decision relating to the number of votes of each shareholder.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The chairman of the Meeting shall have the exclusive power, in compliance with the rules provided for in these Bylaws, to conduct the election of the members of the Board of Directors, including any decision relating to the number of votes of each shareholder</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The chairman of the Meeting shall have the exclusive power, in compliance with the rules provided for in these Bylaws, to conduct the election of the members of the Board of Directors, including any decision relating to the number of votes of each shareholder</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 11.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Before the Shareholders&#8217; Meeting is commenced, the shareholders in attendance, as duly identified, shall sign the &#8220;Shareholders Attendance Register&#8221;, which shall contain their names and the number of shares held by each of them.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 11.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Before the Shareholders&#8217; Meeting is commenced, the shareholders in attendance, as duly identified, shall sign the &#8220;Shareholders Attendance Register&#8221;, which shall contain their names and the number of shares held by each of them.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 11.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Before the Shareholders&#8217; Meeting is commenced, the shareholders in attendance, as duly identified, shall sign the &#8220;Shareholders Attendance Register&#8221;, which shall contain their names and the number of shares held by each of them.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The list of the attending shareholders shall be closed by the chairman of the Meeting at the time the Shareholders&#8217; Meeting is commenced.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The list of the attending shareholders shall be closed by the chairman of the Meeting at the time the Shareholders&#8217; Meeting is commenced.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The list of the attending shareholders shall be closed by the chairman of the Meeting at the time the Shareholders&#8217; Meeting is commenced.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders who appear at the Shareholders&#8217; Meeting after its commencement may take part in the meeting, however they shall not be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">entitled to vote on any resolution.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders who appear at the Shareholders&#8217; Meeting after its commencement may take part in the meeting, however they shall not be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">entitled to vote on any resolution.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders who appear at the Shareholders&#8217; Meeting after its commencement may take part in the meeting, however they shall not be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">entitled to vote on any resolution.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 12.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> At the Shareholders&#8217; Meeting, the Company and the presiding board shall comply with the following requirements for attendance, in addition to the procedures and requirements provided for by law:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 12.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> At the Shareholders&#8217; Meeting, the Company and the presiding board shall comply with the following requirements for attendance, in addition to the procedures and requirements provided for by law:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 12.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> At the Shareholders&#8217; Meeting, the Company and the presiding board shall comply with the following requirements for attendance, in addition to the procedures and requirements provided for by law:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) Up to forty-eight (48) hours prior to the Shareholders&#8217; Meeting: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) all shareholders shall furnish to the Company a share statement issued by the bookkeeping institution or by the custodian institution, indicating the number of shares held by them of record no more than three (3) days prior to the Shareholders&#8217; Meeting; and (ii) the shareholders represented by proxies shall send to the Company the respective power of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attorney;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) Up to forty-eight (48) hours prior to the Shareholders&#8217; Meeting: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) all shareholders shall furnish to the Company a share statement issued by the bookkeeping institution or by the custodian institution, indicating the number of shares held by them of record no more than three (3) days prior to the Shareholders&#8217; Meeting; and (ii) the shareholders represented by proxies shall send to the Company the respective power of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attorney;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) Up to forty-eight (48) hours prior to the Shareholders&#8217; Meeting: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) all shareholders shall furnish to the Company a share statement issued by the bookkeeping institution or by the custodian institution, indicating the number of shares held by them of record no more than three (3) days prior to the Shareholders&#8217; Meeting; and (ii) the shareholders represented by proxies shall send to the Company the respective power of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attorney;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) The shareholders organized as investment funds shall send the Company, within the same period mentioned in item (a) above: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) evidence of the capacity of fund manager conferred upon the individual or legal entity representing the shareholder at the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Shareholders&#8217; Meeting, or the proxy granting such powers; (ii) the corporate action of the manager, in case it is a legal entity, granting powers to the representative attending the Shareholders&#8217; Meeting or to whom the power of attorney has been granted; and (iii) in the event the representative or proxy is a legal entity, the same documents referred to in (ii) of this item, as related thereto; </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) The documents referred to in the preceding items may be presented as copies, however the original documents referred to in item (a), shall be shown to the Company prior to the commencement of the Shareholders&#8217; Meeting, the signatures of which shall not need to be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">notarized;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) The shareholders organized as investment funds shall send the Company, within the same period mentioned in item (a) above: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) evidence of the capacity of fund manager conferred upon the individual or legal entity representing the shareholder at the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Shareholders&#8217; Meeting, or the proxy granting such powers; (ii) the corporate action of the manager, in case it is a legal entity, granting powers to the representative attending the Shareholders&#8217; Meeting or to whom the power of attorney has been granted; and (iii) in the event the representative or proxy is a legal entity, the same documents referred to in (ii) of this item, as related thereto; </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) The documents referred to in the preceding items may be presented as copies, however the original documents referred to in item (a), shall be shown to the Company prior to the commencement of the Shareholders&#8217; Meeting, the signatures of which shall not need to be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">notarized;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b) The shareholders organized as investment funds shall send the Company, within the same period mentioned in item (a) above: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) evidence of the capacity of fund manager conferred upon the individual or legal entity representing the shareholder at the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Shareholders&#8217; Meeting, or the proxy granting such powers; (ii) the corporate action of the manager, in case it is a legal entity, granting powers to the representative attending the Shareholders&#8217; Meeting or to whom the power of attorney has been granted; and (iii) in the event the representative or proxy is a legal entity, the same documents referred to in (ii) of this item, as related thereto; </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) The documents referred to in the preceding items may be presented as copies, however the original documents referred to in item (a), shall be shown to the Company prior to the commencement of the Shareholders&#8217; Meeting, the signatures of which shall not need to be </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">notarized;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d) The Company shall adopt the principle of good faith in verifying the validity of the documents demonstrating the representative capacity of shareholder, and will presume the truthfulness of the credible statements made to it; however, the shareholders who fail to present the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">respective power of attorney granted to their representatives, or the custodian&#8217;s statement, in the event the shares are recorded as held with a custodian institution, shall be prohibited from participating in the meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e) In the event the shareholders who were present at the Shareholders&#8217; Meeting (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) were not duly represented; or (ii) did not hold the stated number of shares, the Company shall notify them that, regardless of a new Shareholders&#8217; Meeting, the Company shall disregard the votes of such shareholders, and they shall be liable for losses and damages arising from their acts.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d) The Company shall adopt the principle of good faith in verifying the validity of the documents demonstrating the representative capacity of shareholder, and will presume the truthfulness of the credible statements made to it; however, the shareholders who fail to present the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">respective power of attorney granted to their representatives, or the custodian&#8217;s statement, in the event the shares are recorded as held with a custodian institution, shall be prohibited from participating in the meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e) In the event the shareholders who were present at the Shareholders&#8217; Meeting (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) were not duly represented; or (ii) did not hold the stated number of shares, the Company shall notify them that, regardless of a new Shareholders&#8217; Meeting, the Company shall disregard the votes of such shareholders, and they shall be liable for losses and damages arising from their acts.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d) The Company shall adopt the principle of good faith in verifying the validity of the documents demonstrating the representative capacity of shareholder, and will presume the truthfulness of the credible statements made to it; however, the shareholders who fail to present the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">respective power of attorney granted to their representatives, or the custodian&#8217;s statement, in the event the shares are recorded as held with a custodian institution, shall be prohibited from participating in the meeting; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e) In the event the shareholders who were present at the Shareholders&#8217; Meeting (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) were not duly represented; or (ii) did not hold the stated number of shares, the Company shall notify them that, regardless of a new Shareholders&#8217; Meeting, the Company shall disregard the votes of such shareholders, and they shall be liable for losses and damages arising from their acts.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 13.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Resolutions of the Shareholders&#8217; Meeting shall require a majority vote of the attendees, not </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">taking into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> blank votes, except as otherwise provided for by law or in these Bylaws.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 13.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Resolutions of the Shareholders&#8217; Meeting shall require a majority vote of the attendees, not </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">taking into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> blank votes, except as otherwise provided for by law or in these Bylaws.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 13.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Resolutions of the Shareholders&#8217; Meeting shall require a majority vote of the attendees, not </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">taking into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> blank votes, except as otherwise provided for by law or in these Bylaws.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 14.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Minutes of the Shareholders&#8217; Meetings shall be kept and signed by the presiding board of the meeting and by the attending shareholders.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 14.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Minutes of the Shareholders&#8217; Meetings shall be kept and signed by the presiding board of the meeting and by the attending shareholders.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 14.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Minutes of the Shareholders&#8217; Meetings shall be kept and signed by the presiding board of the meeting and by the attending shareholders.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 15.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall determine the overall compensation of the members of the Board of Directors and of the executive officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 15.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall determine the overall compensation of the members of the Board of Directors and of the executive officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 15.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Shareholders&#8217; Meeting shall determine the overall compensation of the members of the Board of Directors and of the executive officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall determine the compensation to be paid to the Chief Executive Officer and the other executive officers, considering the proposal of the People Committee, in accordance with the amount set forth at the Shareholders&#8217; Meeting, in the introductory paragraph of this Article and the competencies of the People Committee, as provided for in Article 41 herein.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall determine the compensation to be paid to the Chief Executive Officer and the other executive officers, considering the proposal of the People Committee, in accordance with the amount set forth at the Shareholders&#8217; Meeting, in the introductory paragraph of this Article and the competencies of the People Committee, as provided for in Article 41 herein.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall determine the compensation to be paid to the Chief Executive Officer and the other executive officers, considering the proposal of the People Committee, in accordance with the amount set forth at the Shareholders&#8217; Meeting, in the introductory paragraph of this Article and the competencies of the People Committee, as provided for in Article 41 herein.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The members of the Board of Directors and the executive officers are entitled to profit sharing, as provided for by law.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The members of the Board of Directors and the executive officers are entitled to profit sharing, as provided for by law.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The members of the Board of Directors and the executive officers are entitled to profit sharing, as provided for by law.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IV</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Management &#8211; General Rules</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 16.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be managed by a Board of Directors and a Board of Executive Officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IV</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Management &#8211; General Rules</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 16.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be managed by a Board of Directors and a Board of Executive Officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IV</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Management &#8211; General Rules</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 16.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be managed by a Board of Directors and a Board of Executive Officers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> commencement of the term</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of the directors and executive officers, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">which shall not require the posting of a bond, shall be contingent upon their adhesion to the Disclosure and Trading Policy adopted by the Company and execution of the respective deed of investiture, which shall include consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The commencement of the term</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of the directors and executive officers, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">which shall not require the posting of a bond, shall be contingent upon their adhesion to the Disclosure and Trading Policy adopted by the Company and execution of the respective deed of investiture, which shall include consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The commencement of the term</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of the directors and executive officers, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">which shall not require the posting of a bond, shall be contingent upon their adhesion to the Disclosure and Trading Policy adopted by the Company and execution of the respective deed of investiture, which shall include consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER V</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of D</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">irectors</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Members</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 17. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall be comprised of at least five (5) and at maximum eleven (11) members, all of whom shall be elected and removable at the Shareholders&#8217; Meeting, for a unified term of two (2) years, with reelection being permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER V</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of D</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">irectors</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Members</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 17. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall be comprised of at least five (5) and at maximum eleven (11) members, all of whom shall be elected and removable at the Shareholders&#8217; Meeting, for a unified term of two (2) years, with reelection being permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER V</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of D</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">irectors</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Members</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 17. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall be comprised of at least five (5) and at maximum eleven (11) members, all of whom shall be elected and removable at the Shareholders&#8217; Meeting, for a unified term of two (2) years, with reelection being permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The positions of Chairman of the Board of Directors and Chief Executive Officer or principal executive of the Company may not be held by the same individual.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The positions of Chairman of the Board of Directors and Chief Executive Officer or principal executive of the Company may not be held by the same individual.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The positions of Chairman of the Board of Directors and Chief Executive Officer or principal executive of the Company may not be held by the same individual.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall adopt Internal Bylaws that shall provide for, among other relevant matters, its own operation, and the rights and duties of its members, as well as </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">their relationship with the Board of Executive Officers and other corporate bodies.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall adopt Internal Bylaws that shall provide for, among other relevant matters, its own operation, and the rights and duties of its members, as well as </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">their relationship with the Board of Executive Officers and other corporate bodies.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall adopt Internal Bylaws that shall provide for, among other relevant matters, its own operation, and the rights and duties of its members, as well as </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">their relationship with the Board of Executive Officers and other corporate bodies.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Observed the requirements set forth in the Company&#8217;s corporate policies, the only persons eligible for election to the Board of Directors, unless otherwise permitted by the Shareholders&#8217; Meeting, shall be those who, in addition to complying with legal and regulatory requirements and being of well-regarded reputation, do not hold any position in a company which may be considered a competitor of the Company or its controlled companies, and do not have, nor represent, a conflicting interest with the Company&#8217;s interest or those of its controlled companies; it shall be presumed that a person has a conflicting interest with the Company if, cumulatively: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) he/she has been elected by a shareholder who has also elected a director in a competing company; and (ii) he/she has a subordinate relationship with the shareholder who elected him/her. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Observed the requirements set forth in the Company&#8217;s corporate policies, the only persons eligible for election to the Board of Directors, unless otherwise permitted by the Shareholders&#8217; Meeting, shall be those who, in addition to complying with legal and regulatory requirements and being of well-regarded reputation, do not hold any position in a company which may be considered a competitor of the Company or its controlled companies, and do not have, nor represent, a conflicting interest with the Company&#8217;s interest or those of its controlled companies; it shall be presumed that a person has a conflicting interest with the Company if, cumulatively: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) he/she has been elected by a shareholder who has also elected a director in a competing company; and (ii) he/she has a subordinate relationship with the shareholder who elected him/her. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Observed the requirements set forth in the Company&#8217;s corporate policies, the only persons eligible for election to the Board of Directors, unless otherwise permitted by the Shareholders&#8217; Meeting, shall be those who, in addition to complying with legal and regulatory requirements and being of well-regarded reputation, do not hold any position in a company which may be considered a competitor of the Company or its controlled companies, and do not have, nor represent, a conflicting interest with the Company&#8217;s interest or those of its controlled companies; it shall be presumed that a person has a conflicting interest with the Company if, cumulatively: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) he/she has been elected by a shareholder who has also elected a director in a competing company; and (ii) he/she has a subordinate relationship with the shareholder who elected him/her. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4 Subject to the introductory paragraph of this Article, the number of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">members who will comprise the Board of Directors for each term of office shall be determined at each Shareholders&#8217; Meeting electing the members of the Board of Directors, and which must be submitted to a vote by the chairman of the Meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4 Subject to the introductory paragraph of this Article, the number of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">members who will comprise the Board of Directors for each term of office shall be determined at each Shareholders&#8217; Meeting electing the members of the Board of Directors, and which must be submitted to a vote by the chairman of the Meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4 Subject to the introductory paragraph of this Article, the number of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">members who will comprise the Board of Directors for each term of office shall be determined at each Shareholders&#8217; Meeting electing the members of the Board of Directors, and which must be submitted to a vote by the chairman of the Meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 18.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors of the Company shall have, at least, thirty percent (30%) or 02 (two), whichever is higher, independent members, pursuant to the New Market Regulation, and the classification of the appointed members of the Board of Directors as independent Directors shall be voted on the Shareholders meeting that elect them.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 18.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors of the Company shall have, at least, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">one third</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">1/3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) or 02 (two), whichever is higher, independent members, pursuant to the New Market Regulation, and the classification of the appointed members of the Board of Directors as independent Directors shall be voted on the Shareholders meeting that elect them.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 18.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors of the Company shall have, at least,</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">one third (1/3)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">thirty percent (30%)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> or 2 (two), whichever is higher, independent members, pursuant to the New Market Regulation, and the classification of the appointed members of the Board of Directors as independent Directors shall be voted on the Shareholders meeting that elect them.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Adjustment to suit best corporate governance practices.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">as a result of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> compliance with the percentage referred to in the introductory paragraph of this Article, the number of directors results in a fraction, such number will be rounded to the immediately higher whole number.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When, as a result of compliance with the percentage referred to in the introductory paragraph of this Article, the number of directors results in a fraction, such number will be rounded to the immediately higher whole number.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When, as a result of compliance with the percentage referred to in the introductory paragraph of this Article, the number of directors results in a fraction, such number will be rounded to the immediately higher whole number.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 19.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">If a member of the Board of Directors fails to meet the requirements set forth in Article 17 above due to a supervening or unknown fact at the time of his/her </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">election, he/she shall be immediately replaced. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 19.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">If a member of the Board of Directors fails to meet the requirements set forth in Article 17 above due to a supervening or unknown fact at the time of his/her </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">election, he/she shall be immediately replaced. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 19.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">If a member of the Board of Directors fails to meet the requirements set forth in Article 17 above due to a supervening or unknown fact at the time of his/her </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">election, he/she shall be immediately replaced. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same actions provided for in the introductory paragraph of this Article shall be taken in the event any of the independent Directors fails to meet the independence criteria set forth in the New Market Regulation, resulting in noncompliance with the minimum share of thirty percent (30%) of independent Directors, as provided in Article 18 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same actions provided for in the introductory paragraph of this Article shall be taken in the event any of the independent Directors fails to meet the independence criteria set forth in the New Market Regulation, resulting in noncompliance with the minimum share of thirty percent (30%) of independent Directors, as provided in Article 18 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same actions provided for in the introductory paragraph of this Article shall be taken in the event any of the independent Directors fails to meet the independence criteria set forth in the New Market Regulation, resulting in noncompliance with the minimum share of thirty percent (30%) of independent Directors, as provided in Article 18 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Election</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 20.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Article 21, the election of the members of the Board of Directors shall be made through the nomination of a slate of candidates.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Election</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 20.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Article 21, the election of the members of the Board of Directors shall be made through the nomination of a slate of candidates.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Election</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 20.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Article 21, the election of the members of the Board of Directors shall be made through the nomination of a slate of candidates.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Under the election provisions of this Article, only the following slates of candidates will be eligible for election: (a) those nominated by the Board of Directors; or (b) those nominated by any shareholder or group of shareholders, as provided for in Paragraph 3 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Under the election provisions of this Article, only the following slates of candidates will be eligible for election: (a) those nominated by the Board of Directors; or (b) those nominated by any shareholder or group of shareholders, as provided for in Paragraph 3 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Under the election provisions of this Article, only the following slates of candidates will be eligible for election: (a) those nominated by the Board of Directors; or (b) those nominated by any shareholder or group of shareholders, as provided for in Paragraph 3 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">At the date the Shareholders&#8217; Meeting for electing the members of the Board </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors is called, the Board of Directors shall make available at the Company&#8217;s headquarters a statement signed by each of the members of the slate of candidates nominated by it, containing: (a) their full identification; (b) a complete description of their professional experience, describing the professional activities previously performed, as well as their professional and academic qualifications; and (c) information about disciplinary and judicial proceedings for which a final judgment was rendered and in which any such members have been convicted, as well as inform, if the case may be, the existence of events of limitations or conflict of interest provided for in Article 147, Paragraph 3 of Law 6,404/76.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">At the date the Shareholders&#8217; Meeting for electing the members of the Board </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors is called, the Board of Directors shall make available at the Company&#8217;s headquarters a statement signed by each of the members of the slate of candidates nominated by it, containing: (a) their full identification; (b) a complete description of their professional experience, describing the professional activities previously performed, as well as their professional and academic qualifications; and (c) information about disciplinary and judicial proceedings for which a final judgment was rendered and in which any such members have been convicted, as well as inform, if the case may be, the existence of events of limitations or conflict of interest provided for in Article 147, Paragraph 3 of Law 6,404/76.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">At the date the Shareholders&#8217; Meeting for electing the members of the Board </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors is called, the Board of Directors shall make available at the Company&#8217;s headquarters a statement signed by each of the members of the slate of candidates nominated by it, containing: (a) their full identification; (b) a complete description of their professional experience, describing the professional activities previously performed, as well as their professional and academic qualifications; and (c) information about disciplinary and judicial proceedings for which a final judgment was rendered and in which any such members have been convicted, as well as inform, if the case may be, the existence of events of limitations or conflict of interest provided for in Article 147, Paragraph 3 of Law 6,404/76.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders or group of shareholders desiring to propose another slate of candidates to be elected to the Board of Directors shall, at least five (5) days prior the date of the Shareholders&#8217; Meeting, send to the Board of Directors statements individually signed by the candidates </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">nominated by them, containing the information mentioned in the preceding Paragraph; the Board of Directors shall immediately disclose such information, by notice posted on the Company&#8217;s internet website and sent by electronic means of communication to the CVM and the B3 notifying them that the documents with respect to the other slate of candidates submitted to the Board of Directors are available to the shareholders at the Company&#8217;s headquarters.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders or group of shareholders desiring to propose another slate of candidates to be elected to the Board of Directors shall, at least five (5) days prior the date of the Shareholders&#8217; Meeting, send to the Board of Directors statements individually signed by the candidates </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">nominated by them, containing the information mentioned in the preceding Paragraph; the Board of Directors shall immediately disclose such information, by notice posted on the Company&#8217;s internet website and sent by electronic means of communication to the CVM and the B3 notifying them that the documents with respect to the other slate of candidates submitted to the Board of Directors are available to the shareholders at the Company&#8217;s headquarters.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The shareholders or group of shareholders desiring to propose another slate of candidates to be elected to the Board of Directors shall, at least five (5) days prior the date of the Shareholders&#8217; Meeting, send to the Board of Directors statements individually signed by the candidates </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">nominated by them, containing the information mentioned in the preceding Paragraph; the Board of Directors shall immediately disclose such information, by notice posted on the Company&#8217;s internet website and sent by electronic means of communication to the CVM and the B3 notifying them that the documents with respect to the other slate of candidates submitted to the Board of Directors are available to the shareholders at the Company&#8217;s headquarters.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The persons nominated by the Board of Directors or by shareholders shall be identified</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">, as the case may be, as</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> candidates to independent Directors, subject to the provisions of Article 18 above, as well as the contents of the new Market Regulation. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The persons nominated by the Board of Directors or by shareholders shall be identified</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">, as the case may be, as</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> candidates to independent Directors, subject to the provisions of Article 18 above, as well as the contents of the new Market Regulation. </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The persons nominated by the Board of Directors or by shareholders shall be identified</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">, as the case may be, as</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> candidates to independent Directors, subject to the provisions of Article 18 above, as well as the contents of the new Market Regulation. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same person may stand for election in two or more slates of candidates, including those nominated by the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same person may stand for election in two or more slates of candidates, including those nominated by the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same person may stand for election in two or more slates of candidates, including those nominated by the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to vote for only one slate of candidates, and the slate of candidates receiving the largest </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">number of votes at the Shareholders&#8217; Meeting will be elected.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to vote for only one slate of candidates, and the slate of candidates receiving the largest </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">number of votes at the Shareholders&#8217; Meeting will be elected.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to vote for only one slate of candidates, and the slate of candidates receiving the largest </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">number of votes at the Shareholders&#8217; Meeting will be elected.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 21.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When electing members to the Board of Directors, shareholders will be entitled to request, as required by law, the adoption of a cumulative voting process, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">provided that</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> they do so within, at least, forty-eight (48) hours in advance of the Shareholders&#8217; Meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 21.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When electing members to the Board of Directors, shareholders will be entitled to request, as required by law, the adoption of a cumulative voting process, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">provided that</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> they do so within, at least, forty-eight (48) hours in advance of the Shareholders&#8217; Meeting.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 21.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">When electing members to the Board of Directors, shareholders will be entitled to request, as required by law, the adoption of a cumulative voting process, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">provided that</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> they do so within, at least, forty-eight (48) hours in advance of the Shareholders&#8217; Meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, immediately after receiving the request, shall notify the CVM and the B3 by electronic means and post on its internet website that the election will be conducted by cumulative voting.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, immediately after receiving the request, shall notify the CVM and the B3 by electronic means and post on its internet website that the election will be conducted by cumulative voting.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, immediately after receiving the request, shall notify the CVM and the B3 by electronic means and post on its internet website that the election will be conducted by cumulative voting.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event members of the Board of Directors are elected by cumulative voting, the candidates will not be elected through a nomination on a slate of candidates; the candidates for the Board of Directors shall be those who are part of the slate of candidates as provided for in Article 20, as well as the candidates who are nominated by a shareholder attending the meeting, provided that the Shareholders&#8217; Meeting is provided with the statements signed by these </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">candidates as set forth in Paragraph 2 of Article 20 of these Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event members of the Board of Directors are elected by cumulative voting, the candidates will not be elected through a nomination on a slate of candidates; the candidates for the Board of Directors shall be those who are part of the slate of candidates as provided for in Article 20, as well as the candidates who are nominated by a shareholder attending the meeting, provided that the Shareholders&#8217; Meeting is provided with the statements signed by these </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">candidates as set forth in Paragraph 2 of Article 20 of these Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event members of the Board of Directors are elected by cumulative voting, the candidates will not be elected through a nomination on a slate of candidates; the candidates for the Board of Directors shall be those who are part of the slate of candidates as provided for in Article 20, as well as the candidates who are nominated by a shareholder attending the meeting, provided that the Shareholders&#8217; Meeting is provided with the statements signed by these </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">candidates as set forth in Paragraph 2 of Article 20 of these Bylaws.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to cast the entirety of the votes to which he/she is entitled on one sole candidate or to distribute them among several candidates; the candidates who received the largest number of votes shall be elected.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to cast the entirety of the votes to which he/she is entitled on one sole candidate or to distribute them among several candidates; the candidates who received the largest number of votes shall be elected.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each shareholder shall be entitled to cast the entirety of the votes to which he/she is entitled on one sole candidate or to distribute them among several candidates; the candidates who received the largest number of votes shall be elected.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Positions that are not filled due to a tie vote shall require a new election, following the same procedure, adjusting the number of votes to which each shareholder will be entitled to the number of positions to be filled.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Positions that are not filled due to a tie vote shall require a new election, following the same procedure, adjusting the number of votes to which each shareholder will be entitled to the number of positions to be filled.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Positions that are not filled due to a tie vote shall require a new election, following the same procedure, adjusting the number of votes to which each shareholder will be entitled to the number of positions to be filled.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the election has been conducted by cumulative voting, the removal of any member of the Board of Directors by the Shareholders&#8217; Meeting shall entail the removal of the other members, giving rise to a new election.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the election has been conducted by cumulative voting, the removal of any member of the Board of Directors by the Shareholders&#8217; Meeting shall entail the removal of the other members, giving rise to a new election.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the election has been conducted by cumulative voting, the removal of any member of the Board of Directors by the Shareholders&#8217; Meeting shall entail the removal of the other members, giving rise to a new election.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the Company may be controlled by one shareholder or group of shareholders, as defined in Article 116 of law no. 6,404/76, shareholders representing ten percent (10%) of the capital stock may require, in conformity </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">with Paragraph 4 of Article 141 of Law 6,404/76, that the election of one of the members of the Board of Directors is carried out separately, notwithstanding the rules set forth in Article 20 above.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the Company may be controlled by one shareholder or group of shareholders, as defined in Article 116 of law no. 6,404/76, shareholders representing ten percent (10%) of the capital stock may require, in conformity </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">with Paragraph 4 of Article 141 of Law 6,404/76, that the election of one of the members of the Board of Directors is carried out separately, notwithstanding the rules set forth in Article 20 above.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event the Company may be controlled by one shareholder or group of shareholders, as defined in Article 116 of law no. 6,404/76, shareholders representing ten percent (10%) of the capital stock may require, in conformity </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">with Paragraph 4 of Article 141 of Law 6,404/76, that the election of one of the members of the Board of Directors is carried out separately, notwithstanding the rules set forth in Article 20 above.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 22.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event a director residing and domiciled outside Brazil is elected, the commencement of his/her term shall be conditioned on the appointment of an attorney-in-fact, residing and domiciled in Brazil,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">empowered to receive service of process for any corporate law-based lawsuit that may be brought against him/her. The term of such power of attorney shall be for, at least, three (3) years after the end of the term of office of the respective director.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 22.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event a director residing and domiciled outside Brazil is elected, the commencement of his/her term shall be conditioned on the appointment of an attorney-in-fact, residing and domiciled in Brazil,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">empowered to receive service of process for any corporate law-based lawsuit that may be brought against him/her. The term of such power of attorney shall be for, at least, three (3) years after the end of the term of office of the respective director.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 22.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event a director residing and domiciled outside Brazil is elected, the commencement of his/her term shall be conditioned on the appointment of an attorney-in-fact, residing and domiciled in Brazil,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">empowered to receive service of process for any corporate law-based lawsuit that may be brought against him/her. The term of such power of attorney shall be for, at least, three (3) years after the end of the term of office of the respective director.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 23.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall elect a Chairman and Vice-Chairman among its members, to occur at the first meeting after the commencement of the directors&#180; term or at the first meeting after there is a vacancy of these positions on the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 23.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall elect a Chairman and Vice-Chairman among its members, to occur at the first meeting after the commencement of the directors&#180; term or at the first meeting after there is a vacancy of these positions on the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 23.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall elect a Chairman and Vice-Chairman among its members, to occur at the first meeting after the commencement of the directors&#180; term or at the first meeting after there is a vacancy of these positions on the Board of Directors.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211; Meetings and R</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">eplacements</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 24.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall hold regular meetings once every three (3) months and special meetings whenever called by the Chairman or by any two (2) directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211; Meetings and R</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">eplacements</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 24.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall hold regular meetings once every three (3) months and special meetings whenever called by the Chairman or by any two (2) directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211; Meetings and R</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">eplacements</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 24.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall hold regular meetings once every three (3) months and special meetings whenever called by the Chairman or by any two (2) directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called in writing, by letter, telegram, fax, e-mail or any other form that allows proof of receipt of the call notice by the recipient, and shall contain, in addition to the place, date and time of the meeting, the agenda.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called in writing, by letter, telegram, fax, e-mail or any other form that allows proof of receipt of the call notice by the recipient, and shall contain, in addition to the place, date and time of the meeting, the agenda.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called in writing, by letter, telegram, fax, e-mail or any other form that allows proof of receipt of the call notice by the recipient, and shall contain, in addition to the place, date and time of the meeting, the agenda.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called at least three (3) days in advance. Regardless of the formalities observed in calling the meeting, a meeting shall be deemed to be duly called if attended by all the members of the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called at least three (3) days in advance. Regardless of the formalities observed in calling the meeting, a meeting shall be deemed to be duly called if attended by all the members of the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The meetings of the Board of Directors shall be called at least three (3) days in advance. Regardless of the formalities observed in calling the meeting, a meeting shall be deemed to be duly called if attended by all the members of the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In case of urgency, the Chairman of the Board of Directors (or a third party he or she may appoint) may call a meeting of the Board of Directors with less than the period provided for in Paragraph 2 of this Article, provided that in this case the meeting shall not be held unless at least two-thirds (2/3) of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elected members attend the meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In case of urgency, the Chairman of the Board of Directors (or a third party he or she may appoint) may call a meeting of the Board of Directors with less than the period provided for in Paragraph 2 of this Article, provided that in this case the meeting shall not be held unless at least two-thirds (2/3) of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elected members attend the meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In case of urgency, the Chairman of the Board of Directors (or a third party he or she may appoint) may call a meeting of the Board of Directors with less than the period provided for in Paragraph 2 of this Article, provided that in this case the meeting shall not be held unless at least two-thirds (2/3) of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elected members attend the meeting.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The directors may attend the meetings of the Board of Directors by telephone conference, videoconference or by any other means of communication allowing the identification of the director and simultaneous communication with all the other persons present at the meeting.&nbsp; In this case, directors will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">be considered to be</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> present at the meeting and sign the corresponding minutes.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The directors may attend the meetings of the Board of Directors by telephone conference, videoconference or by any other means of communication allowing the identification of the director and simultaneous communication with all the other persons present at the meeting.&nbsp; In this case, directors will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">be considered to be</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> present at the meeting and sign the corresponding minutes.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The directors may attend the meetings of the Board of Directors by telephone conference, videoconference or by any other means of communication allowing the identification of the director and simultaneous communication with all the other persons present at the meeting.&nbsp; In this case, directors will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">be considered to be</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> present at the meeting and sign the corresponding minutes.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt;line-height: 120%;margin: 0pt 0pt 8pt;"><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 25.</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 3 of Article 24, </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the directors must attend a meeting of the Board of Directors for it to commence, including the Chairman or the Vice-Chairman, and the resolutions shall require a majority vote, with the Chairman or, in his/her absence, the Vice-Chairman, in addition to his/her own vote, providing the casting vote.</font></p>
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<p style="font-size: 9pt;line-height: 120%;margin: 0pt 0pt 8pt;"><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 25.</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 3 of Article 24, </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the directors must attend a meeting of the Board of Directors for it to commence, including the Chairman or the Vice-Chairman, and the resolutions shall require a majority vote, with the Chairman or, in his/her absence, the Vice-Chairman, in addition to his/her own vote, providing the casting vote.</font></p>
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<p style="font-size: 9pt;line-height: 120%;margin: 0pt 0pt 8pt;"><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 25.</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 3 of Article 24, </font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="background-color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the directors must attend a meeting of the Board of Directors for it to commence, including the Chairman or the Vice-Chairman, and the resolutions shall require a majority vote, with the Chairman or, in his/her absence, the Vice-Chairman, in addition to his/her own vote, providing the casting vote.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In event of absence or temporary unavailability of the Chairman of the Board of Directors, his/her duties will be exercised, on a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">temporary basis, by the Vice-Chairman or by another member of the Board of Directors nominated by him/her.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 153px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In event of absence or temporary unavailability of the Chairman of the Board of Directors, his/her duties will be exercised, on a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">temporary basis, by the Vice-Chairman or by another member of the Board of Directors nominated by him/her.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000; height: 153px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In event of absence or temporary unavailability of the Chairman of the Board of Directors, his/her duties will be exercised, on a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">temporary basis, by the Vice-Chairman or by another member of the Board of Directors nominated by him/her.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 26.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">No member of the Board</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors may have access to information, take part in resolutions and discussions of the Board of Directors or of any managing bodies, vote or, in any manner, intervene in the matter in which he/she is directly or indirectly in a conflict with the Company&#8217;s interests, as provided for by law.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 26.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">No member of the Board</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors may have access to information, take part in resolutions and discussions of the Board of Directors or of any managing bodies, vote or, in any manner, intervene in the matter in which he/she is directly or indirectly in a conflict with the Company&#8217;s interests, as provided for by law.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 26.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">No member of the Board</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of Directors may have access to information, take part in resolutions and discussions of the Board of Directors or of any managing bodies, vote or, in any manner, intervene in the matter in which he/she is directly or indirectly in a conflict with the Company&#8217;s interests, as provided for by law.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 27.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 5 of Article 21, a substitute for a vacancy on the Board of Directors shall be appointed by the remaining directors and shall hold the office until the subsequent Shareholders&#8217; Meeting, at which a new director shall be elected for remaining term of office of the replaced director. In the event of vacancy of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors, a Shareholders&#8217; Meeting shall be called within fifteen (15) days from the date thereof, in order to elect substitutes, who shall complete the term of office of the replaced members</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 27.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 5 of Article 21, a substitute for a vacancy on the Board of Directors shall be appointed by the remaining directors and shall hold the office until the subsequent Shareholders&#8217; Meeting, at which a new director shall be elected for remaining term of office of the replaced director. In the event of vacancy of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors, a Shareholders&#8217; Meeting shall be called within fifteen (15) days from the date thereof, in order to elect substitutes, who shall complete the term of office of the replaced members</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 27.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Except for the provisions in Paragraph 5 of Article 21, a substitute for a vacancy on the Board of Directors shall be appointed by the remaining directors and shall hold the office until the subsequent Shareholders&#8217; Meeting, at which a new director shall be elected for remaining term of office of the replaced director. In the event of vacancy of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the majority of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors, a Shareholders&#8217; Meeting shall be called within fifteen (15) days from the date thereof, in order to elect substitutes, who shall complete the term of office of the replaced members</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section IV &#8211; Powers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 28.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall have the power to:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">set the general guidelines of the Company&#8217;s and its subsidiaries&#8217; business;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section IV &#8211; Powers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 28.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall have the power to:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">set the general guidelines of the Company&#8217;s and its subsidiaries&#8217; business;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section IV &#8211; Powers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 28.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors shall have the power to:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">set the general guidelines of the Company&#8217;s and its subsidiaries&#8217; business;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elect and remove the executive officers of the Company, appointing among them the Chief Executive Officer and the Investor Relations Officer, and define their duties;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elect and remove the executive officers of the Company, appointing among them the Chief Executive Officer and the Investor Relations Officer, and define their duties;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">elect and remove the executive officers of the Company, appointing among them the Chief Executive Officer and the Investor Relations Officer, and define their duties;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">oversee the management of the executive officers; examine, at any time, the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">books</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> and documents of the Company; request information about agreements previously entered into or in the process of being entered into by the Company or by its subsidiaries;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">oversee the management of the executive officers; examine, at any time, the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">books</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> and documents of the Company; request information about agreements previously entered into or in the process of being entered into by the Company or by its subsidiaries;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">oversee the management of the executive officers; examine, at any time, the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">books</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> and documents of the Company; request information about agreements previously entered into or in the process of being entered into by the Company or by its subsidiaries;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express its opinion with respect to Management Report and the financial statements of the Company, submitting them to the Shareholders&#8217; Meeting for approval;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express its opinion with respect to Management Report and the financial statements of the Company, submitting them to the Shareholders&#8217; Meeting for approval;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express its opinion with respect to Management Report and the financial statements of the Company, submitting them to the Shareholders&#8217; Meeting for approval;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">fix the compensation of the members of the Board of Directors and the individual compensation of the Executive Officers of the Company, considering the proposal of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People&#8217;s Committee, according to article 41, single paragraph, &#8220;b&#8221;. </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">fix the compensation of the members of the Board of Directors and the individual compensation of the Executive Officers of the Company, considering the proposal of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People&#8217;s Committee, according to article 41, single paragraph, &#8220;b&#8221;. </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">e)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">fix the compensation of the members of the Board of Directors and the individual compensation of the Executive Officers of the Company, considering the proposal of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People&#8217;s Committee, according to article 41, single paragraph, &#8220;b&#8221;. </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<tr style="height: 18.2pt;">
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
</th>
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
</th>
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
</th>
</tr>


<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">f)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">define the overall criteria regarding the compensation and benefits policy of the directors and executive officers as well as of the senior employees of the Company and, whenever necessary, of its subsidiaries, taking into consideration the People Committee&#8217;s proposal;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">f)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">define the overall criteria regarding the compensation and benefits policy of the directors and executive officers as well as of the senior employees of the Company and, whenever necessary, of its subsidiaries, taking into consideration the People Committee&#8217;s proposal;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">f)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">define the overall criteria regarding the compensation and benefits policy of the directors and executive officers as well as of the senior employees of the Company and, whenever necessary, of its subsidiaries, taking into consideration the People Committee&#8217;s proposal;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">g)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">grant stock options under the terms of Article 8 of these Bylaws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">g)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">grant stock options under the terms of Article 8 of these Bylaws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">g)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">grant stock options under the terms of Article 8 of these Bylaws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">h)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meetings;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">h)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meetings;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">h)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meetings;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit a slate of candidates to the Shareholders&#8217; Meeting for election of directors, pursuant to Article 20 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit a slate of candidates to the Shareholders&#8217; Meeting for election of directors, pursuant to Article 20 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit a slate of candidates to the Shareholders&#8217; Meeting for election of directors, pursuant to Article 20 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">j)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">propose to the Shareholders&#8217; Meeting the allocation of the balance of the adjusted net profit for the year, as referred to in letter &#8220;c&#8221;, paragraph one of Article 54 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">j)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">propose to the Shareholders&#8217; Meeting the allocation of the balance of the adjusted net profit for the year, as referred to in letter &#8220;c&#8221;, paragraph one of Article 54 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">j)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">propose to the Shareholders&#8217; Meeting the allocation of the balance of the adjusted net profit for the year, as referred to in letter &#8220;c&#8221;, paragraph one of Article 54 of these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">k)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the preparation of financial statements at shorter intervals than the fiscal year, the distribution of dividends based on </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">such financial statements or interim dividends, as well as the payment or crediting of interest on own capital, under the terms of the applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">k)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the preparation of financial statements at shorter intervals than the fiscal year, the distribution of dividends based on </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">such financial statements or interim dividends, as well as the payment or crediting of interest on own capital, under the terms of the applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">k)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the preparation of financial statements at shorter intervals than the fiscal year, the distribution of dividends based on </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">such financial statements or interim dividends, as well as the payment or crediting of interest on own capital, under the terms of the applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<tr style="height: 18.2pt;">
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">l)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on the issuance of shares, debentures convertible into shares and subscription warrants, within the limits of the authorized capital of the Company;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">l)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on the issuance of shares, debentures convertible into shares and subscription warrants, within the limits of the authorized capital of the Company;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">l)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on the issuance of shares, debentures convertible into shares and subscription warrants, within the limits of the authorized capital of the Company;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">m)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit proposals to the Shareholders&#8217; Meeting concerning an amalgamation, spin-off, merger, merger of shares or dissolution of the Company, as well as amendments to these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">m)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit proposals to the Shareholders&#8217; Meeting concerning an amalgamation, spin-off, merger, merger of shares or dissolution of the Company, as well as amendments to these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">m)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">submit proposals to the Shareholders&#8217; Meeting concerning an amalgamation, spin-off, merger, merger of shares or dissolution of the Company, as well as amendments to these Bylaws;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">n)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">authorize the acquisition of shares of the Company to be held as treasury shares, cancelled or subsequently disposed of, subject to applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">n)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">authorize the acquisition of shares of the Company to be held as treasury shares, cancelled or subsequently disposed of, subject to applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">n)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">authorize the acquisition of shares of the Company to be held as treasury shares, cancelled or subsequently disposed of, subject to applicable laws; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">o)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the public issuance of commercial promissory notes by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">o)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the public issuance of commercial promissory notes by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">o)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the public issuance of commercial promissory notes by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">p)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the following transactions, either by the Company or by its controlled companies, when the value exceeds five percent (5%) of the Company&#8217;s shareholders&#8217; equity: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) acquisition, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">disposal or encumbrance of assets; (ii) granting of collateral; (iii) borrowings or waivers of any rights; (iv) investment or investment project; and (v) direct or indirect acquisition or disposal of an equity interest, including by means of a consortium or special partnership;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">p)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the following transactions, either by the Company or by its controlled companies, when the value exceeds five percent (5%) of the Company&#8217;s shareholders&#8217; equity: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) acquisition, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">disposal or encumbrance of assets; (ii) granting of collateral; (iii) borrowings or waivers of any rights; (iv) investment or investment project; and (v) direct or indirect acquisition or disposal of an equity interest, including by means of a consortium or special partnership;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">p)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the following transactions, either by the Company or by its controlled companies, when the value exceeds five percent (5%) of the Company&#8217;s shareholders&#8217; equity: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) acquisition, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">disposal or encumbrance of assets; (ii) granting of collateral; (iii) borrowings or waivers of any rights; (iv) investment or investment project; and (v) direct or indirect acquisition or disposal of an equity interest, including by means of a consortium or special partnership;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<div style="width: 8.5in; margin: 0 auto;">
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
</th>
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
</th>
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
</th>
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
</th>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">q) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the execution of shareholders&#8217; agreements by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">q) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the execution of shareholders&#8217; agreements by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">q) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve the execution of shareholders&#8217; agreements by the Company or by its controlled companies;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">r)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">select and dismiss the independent auditors, after receiving the Audit Committee&#8217;s opinion;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">r)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">select and dismiss the independent auditors, after receiving the Audit Committee&#8217;s opinion;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">r)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">select and dismiss the independent auditors, after receiving the Audit Committee&#8217;s opinion;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express an opinion as to whether it is in favor or against any tender offer for the shares of the Company, through a prior opinion containing the reasons for such position disclosed within 15 (fifteen) days from the publication of the tender offer notice, opinion which should cover, at minimum: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) the convenience and opportunity of the tender offer for the Company and its shareholders as a whole, including with respect to the price and potential impacts on share liquidity; (ii) any alternatives to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">accepting the tender offer for the shares on free float; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express an opinion as to whether it is in favor or against any tender offer for the shares of the Company, through a prior opinion containing the reasons for such position disclosed within 15 (fifteen) days from the publication of the tender offer notice, opinion which should cover, at minimum: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) the convenience and opportunity of the tender offer for the Company and its shareholders as a whole, including with respect to the price and potential impacts on share liquidity; (ii) any alternatives to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">accepting the tender offer for the shares on free float; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">express an opinion as to whether it is in favor or against any tender offer for the shares of the Company, through a prior opinion containing the reasons for such position disclosed within 15 (fifteen) days from the publication of the tender offer notice, opinion which should cover, at minimum: (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) the convenience and opportunity of the tender offer for the Company and its shareholders as a whole, including with respect to the price and potential impacts on share liquidity; (ii) any alternatives to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">accepting the tender offer for the shares on free float; </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">t)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve corporate policies as per the proposals submitted by the relevant entities; and</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">t)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve corporate policies as per the proposals submitted by the relevant entities; and</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">t)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">approve corporate policies as per the proposals submitted by the relevant entities; and</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">u)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on other matters not regulated by these Bylaws, as well as otherwise resolving such matters.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">u)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on other matters not regulated by these Bylaws, as well as otherwise resolving such matters.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">u)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">pass resolutions on other matters not regulated by these Bylaws, as well as otherwise resolving such matters.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 29.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chairman of the Board of Directors shall: </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meeting, whenever so decided by the Board of Directors or, exceptionally, on his/her own initiative, in which case he/she shall immediately inform the other directors of the meeting;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 29.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chairman of the Board of Directors shall: </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meeting, whenever so decided by the Board of Directors or, exceptionally, on his/her own initiative, in which case he/she shall immediately inform the other directors of the meeting;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 29.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chairman of the Board of Directors shall: </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call the Shareholders&#8217; Meeting, whenever so decided by the Board of Directors or, exceptionally, on his/her own initiative, in which case he/she shall immediately inform the other directors of the meeting;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside the meetings of the Board of Directors;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside the meetings of the Board of Directors;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside the meetings of the Board of Directors;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">communicate the dates of the regular meetings and oversee the Board of Director&#8217;s administrative activities; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">communicate the dates of the regular meetings and oversee the Board of Director&#8217;s administrative activities; and</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">communicate the dates of the regular meetings and oversee the Board of Director&#8217;s administrative activities; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">convey resolutions made by the Board of Directors to the Board of Executive Officers and instruct the latter on the fulfillment thereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">convey resolutions made by the Board of Directors to the Board of Executive Officers and instruct the latter on the fulfillment thereof.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">convey resolutions made by the Board of Directors to the Board of Executive Officers and instruct the latter on the fulfillment thereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 30.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Vice-Chairman of the Board of Directors shall replace the Chairman, in his/her occasional absences and unavailability and, in case of vacancy in the office of Chairman, to hold such office until the date of the election of the new Chairman.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 30.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Vice-Chairman of the Board of Directors shall replace the Chairman, in his/her occasional absences and unavailability and, in case of vacancy in the office of Chairman, to hold such office until the date of the election of the new Chairman.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 30.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Vice-Chairman of the Board of Directors shall replace the Chairman, in his/her occasional absences and unavailability and, in case of vacancy in the office of Chairman, to hold such office until the date of the election of the new Chairman.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of E</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">xecutive Officers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 31. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall be comprised of up to eight (8) executive officers, who may or may not be shareholders, shall be resident in Brazil and be elected by the Board of Directors, without specific designation except for the Chief Executive Officer and the Investor Relations Officer</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of E</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">xecutive Officers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 31. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall be comprised of up to eight (8) executive officers, who may or may not be shareholders, shall be resident in Brazil and be elected by the Board of Directors, without specific designation except for the Chief Executive Officer and the Investor Relations Officer</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Board of E</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">xecutive Officers</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 31. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall be comprised of up to eight (8) executive officers, who may or may not be shareholders, shall be resident in Brazil and be elected by the Board of Directors, without specific designation except for the Chief Executive Officer and the Investor Relations Officer</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole paragraph.&nbsp; The term of the members of the Board of Executive Officers shall be 2 (two) years, with reelection permitted, and will continue until each successor is elected.&nbsp; </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole paragraph.&nbsp; The term of the members of the Board of Executive Officers shall be 2 (two) years, with reelection permitted, and will continue until each successor is elected.&nbsp; </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole paragraph.&nbsp; The term of the members of the Board of Executive Officers shall be 2 (two) years, with reelection permitted, and will continue until each successor is elected.&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 32. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall hold meetings whenever the interest of the Company shall so require and their decisions shall be made by simple </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">majority of votes, requiring one-half of the number of the elected members to form a quorum, with the Chief Executive Officer, in addition to his/her own vote, providing the casting vote.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 32. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall hold meetings whenever the interest of the Company shall so require and their decisions shall be made by simple </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">majority of votes, requiring one-half of the number of the elected members to form a quorum, with the Chief Executive Officer, in addition to his/her own vote, providing the casting vote.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 32. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers shall hold meetings whenever the interest of the Company shall so require and their decisions shall be made by simple </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">majority of votes, requiring one-half of the number of the elected members to form a quorum, with the Chief Executive Officer, in addition to his/her own vote, providing the casting vote.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 33.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Board of Executive Officers shall perform the acts necessary for the regular operation of the Company and for the management of its business, and shall be authorized to open and close branches, offices or other premises and facilities in any location in Brazil or abroad, subject to the guidelines provided by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 33.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Board of Executive Officers shall perform the acts necessary for the regular operation of the Company and for the management of its business, and shall be authorized to open and close branches, offices or other premises and facilities in any location in Brazil or abroad, subject to the guidelines provided by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 33.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Board of Executive Officers shall perform the acts necessary for the regular operation of the Company and for the management of its business, and shall be authorized to open and close branches, offices or other premises and facilities in any location in Brazil or abroad, subject to the guidelines provided by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Actions which may affect third parties shall be signed by two executive officers, jointly, or by one executive officer and one attorney-in-fact, or by two attorneys-in-fact, with specific powers.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Actions which may affect third parties shall be signed by two executive officers, jointly, or by one executive officer and one attorney-in-fact, or by two attorneys-in-fact, with specific powers.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Actions which may affect third parties shall be signed by two executive officers, jointly, or by one executive officer and one attorney-in-fact, or by two attorneys-in-fact, with specific powers.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, acting by two of its executive officers, may appoint attorneys-in-fact, specifying in the power of attorney the purpose thereof, the powers granted and the term of the power of attorney, which shall not exceed one year, unless the power of attorney is granted with ad judicia </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">powers, in which case it may be valid for an indefinite term.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, acting by two of its executive officers, may appoint attorneys-in-fact, specifying in the power of attorney the purpose thereof, the powers granted and the term of the power of attorney, which shall not exceed one year, unless the power of attorney is granted with ad judicia </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">powers, in which case it may be valid for an indefinite term.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, acting by two of its executive officers, may appoint attorneys-in-fact, specifying in the power of attorney the purpose thereof, the powers granted and the term of the power of attorney, which shall not exceed one year, unless the power of attorney is granted with ad judicia </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">powers, in which case it may be valid for an indefinite term.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers may, in exceptional cases, authorize the Company to be represented by one sole executive officer or one sole attorney-in-fact appointed for such purpose, and shall specify the purpose and limit of the powers granted in the minutes of the meeting.&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers may, in exceptional cases, authorize the Company to be represented by one sole executive officer or one sole attorney-in-fact appointed for such purpose, and shall specify the purpose and limit of the powers granted in the minutes of the meeting.&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Executive Officers may, in exceptional cases, authorize the Company to be represented by one sole executive officer or one sole attorney-in-fact appointed for such purpose, and shall specify the purpose and limit of the powers granted in the minutes of the meeting.&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 34.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chief Executive Officer shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">direct, instruct and coordinate the activities of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside over the meetings of the Board of Executive Officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">represent the Company in court, either as plaintiff or defendant.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 34.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chief Executive Officer shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">direct, instruct and coordinate the activities of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside over the meetings of the Board of Executive Officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">represent the Company in court, either as plaintiff or defendant.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 34.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Chief Executive Officer shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">direct, instruct and coordinate the activities of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">call and preside over the meetings of the Board of Executive Officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">represent the Company in court, either as plaintiff or defendant.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 35.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officer exercising the duties of Investor Relations Officer shall provide information to investors, the CVM and the stock exchange or over-the-counter market on which the Company&#8217;s securities are traded, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">as well as maintain the registration of the Company updated in conformity with the CVM&#8217;s applicable regulations and to meet the other requirements contained in such regulations, in addition to exercising the duties assigned to him/her by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 35.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officer exercising the duties of Investor Relations Officer shall provide information to investors, the CVM and the stock exchange or over-the-counter market on which the Company&#8217;s securities are traded, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">as well as maintain the registration of the Company updated in conformity with the CVM&#8217;s applicable regulations and to meet the other requirements contained in such regulations, in addition to exercising the duties assigned to him/her by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 35.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officer exercising the duties of Investor Relations Officer shall provide information to investors, the CVM and the stock exchange or over-the-counter market on which the Company&#8217;s securities are traded, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">as well as maintain the registration of the Company updated in conformity with the CVM&#8217;s applicable regulations and to meet the other requirements contained in such regulations, in addition to exercising the duties assigned to him/her by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 36.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officers without a specific designation, in addition to their statutory duties, shall perform those duties which may be assigned to them by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 36.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officers without a specific designation, in addition to their statutory duties, shall perform those duties which may be assigned to them by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 36.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The executive officers without a specific designation, in addition to their statutory duties, shall perform those duties which may be assigned to them by the Board of Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 37.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The executive officers shall substitute each other, subject to the following conditions:</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 37.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The executive officers shall substitute each other, subject to the following conditions:</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 37.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The executive officers shall substitute each other, subject to the following conditions:</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of the occasional absence and unavailability of the Chief Executive Officer for a period of up to sixty (60) days, the Chairman of the Board of Directors shall nominate a substitute for him/her from among the members of the Board of Executive Officers, and the substitute executive officer shall temporarily exercise the duties of Chief Executive Officer until the latter returns to his/her office or the next following meeting of the Board of Directors, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">whichever occurs first; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of vacancy in the office of an executive officer, he/she may be replaced, until the following meeting of the Board of Directors, by another executive officer appointed by the Chief Executive Officer.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of the occasional absence and unavailability of the Chief Executive Officer for a period of up to sixty (60) days, the Chairman of the Board of Directors shall nominate a substitute for him/her from among the members of the Board of Executive Officers, and the substitute executive officer shall temporarily exercise the duties of Chief Executive Officer until the latter returns to his/her office or the next following meeting of the Board of Directors, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">whichever occurs first; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of vacancy in the office of an executive officer, he/she may be replaced, until the following meeting of the Board of Directors, by another executive officer appointed by the Chief Executive Officer.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of the occasional absence and unavailability of the Chief Executive Officer for a period of up to sixty (60) days, the Chairman of the Board of Directors shall nominate a substitute for him/her from among the members of the Board of Executive Officers, and the substitute executive officer shall temporarily exercise the duties of Chief Executive Officer until the latter returns to his/her office or the next following meeting of the Board of Directors, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">whichever occurs first; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in case of vacancy in the office of an executive officer, he/she may be replaced, until the following meeting of the Board of Directors, by another executive officer appointed by the Chief Executive Officer.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Committees</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 38.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall have the following support committees attached to the Board of Directors:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Audit and Risks </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People Committee; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Committees</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 38.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall have the following support committees attached to the Board of Directors:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Audit and Risks </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People Committee; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Committees</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 38.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall have the following support committees attached to the Board of Directors:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Audit and Risks </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">People Committee; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each committee shall have its own internal bylaws, which shall require the approval of the Board of Directors, to govern matters associated with its working and define the role of its coordinator.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each committee shall have its own internal bylaws, which shall require the approval of the Board of Directors, to govern matters associated with its working and define the role of its coordinator.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Each committee shall have its own internal bylaws, which shall require the approval of the Board of Directors, to govern matters associated with its working and define the role of its coordinator.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors may establish additional committees for assisting it in the management of the Company, which may have specific purposes and may appoint their respective members.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors may establish additional committees for assisting it in the management of the Company, which may have specific purposes and may appoint their respective members.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Board of Directors may establish additional committees for assisting it in the management of the Company, which may have specific purposes and may appoint their respective members.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, by these Bylaws and by the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Audit and Risks Committee, the People Committee, the Strategy Committee and other additional committees that may be established by the Board of Directors for assistance in the management of the Company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, by these Bylaws and by the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Audit and Risks Committee, the People Committee, the Strategy Committee and other additional committees that may be established by the Board of Directors for assistance in the management of the Company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, by these Bylaws and by the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Audit and Risks Committee, the People Committee, the Strategy Committee and other additional committees that may be established by the Board of Directors for assistance in the management of the Company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 39.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Subject to the criteria set forth below, the Committees shall be comprised of at least three (3) members, being at least one of them a Director, all elected by the Board of Directors for a term of office of two (2) years, and the term shall coincide with the term of office of the Directors, with reelection being permitted for successive terms.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 39.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Subject to the criteria set forth below, the Committees shall be comprised of at least three (3) members, all elected by the Board of Directors for a term of office of two (2) years, and the term shall coincide with the term of office of the Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 39.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Subject to the criteria set forth below, the Committees shall be comprised of at least three (3) members, </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">being at least one of them a Director,</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">all elected by the Board of Directors for a term of office of two (2) years, and the term shall coincide with the term of office of the Directors</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">, with reelection being permitted for successive terms</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Adjustment to allow each </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Advisory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee to have its own composition rule, allowing for the improvement of governance in the composition of Committees, as well as to adapt to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">content</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> of CVM Resolution 23/21.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&#167; 1<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>During their term of office, the members of each Committee may not be replaced except for the following reasons:</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">(a)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">death or resignation<font style="mso-bidi-font-weight: bold;">; </font></font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">(b)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>unjustified absence from three (3) consecutive meetings or six (6) alternate meetings per year; or</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">(c)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">a substantiated decision of the Board of Directors.</font> <br></p>
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<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&#167; 1<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>During their term of office, the members of each Committee may not be replaced except for the following reasons:</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">(a)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">death or resignation<font style="mso-bidi-font-weight: bold;">; </font></font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">(b)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>unjustified absence from three (3) consecutive meetings or six (6) alternate meetings per year; or</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">(c)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">a substantiated decision of the Board of Directors.</font> <br></p>
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<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&#167; 1<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>During their term of office, the members of each Committee may not be replaced except for the following reasons:</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">(a)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">death or resignation<font style="mso-bidi-font-weight: bold;">; </font></font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-bidi-font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">(b)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>unjustified absence from three (3) consecutive meetings or six (6) alternate meetings per year; or</font></p>
<p style="margin: 0cm 0cm 8pt; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font lang="EN-US" style="font-size: 9pt; line-height: 107%; font-family: 'Century Gothic', sans-serif; color: #000000; letter-spacing: 0.8pt;">(c)<font style="mso-tab-count: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Open Sans'; color: black; letter-spacing: .8pt; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">a substantiated decision of the Board of Directors.</font> <br></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event of a vacancy in any member of the Committees, the Board of Directors shall elect a person to complete the term of office of the replaced member.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event of a vacancy in any member of the Committees, the Board of Directors shall elect a person to complete the term of office of the replaced member.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">In the event of a vacancy in any member of the Committees, the Board of Directors shall elect a person to complete the term of office of the replaced member.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">There is no corresponding d</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">evice. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3 The members of the committees may be reappointed for successive terms, except for the members of the Audit and Risk Committee, who will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">exercise</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> their positions for a maximum of 10 (ten) years.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">&#167; 3 The members of the committees may be reappointed for successive terms, except for the members of the Audit and Risk</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">s</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> Committee, who will exercise their positions for a maximum of 10 (ten) years.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Inclusion to adapt to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">content </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">of CVM Resolution 23/21, limiting the term of office of the Audit and Risk</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Committee members to a maximum term of 10 years.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Audit and Risks Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Audit and Risks Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Audit and Risks Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 40.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall include at least one (01) independent Director and at least </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">one (01) member with recognized experience in corporate accounting matters, as provided in the applicable regulations of the CVM.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 40.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">be composed only by Directors, with the majority being </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">independent, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">include </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">at least one (01) member with recognized experience in corporate accounting matters, as provided in the applicable regulations of the CVM.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 40.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">include </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">be composed only by Directors, with the majority being </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">independent</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">,</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;"> at least one (01) independent Director</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> include </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">at least one (01) member with recognized experience in corporate accounting matters, as provided in the applicable regulations of the CVM.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Adjustment to improve the governance of the Audit and Risk</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Committee and compliance with the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">content</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> of CVM </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Resolution 23/21, adjusting the composition of the body.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single member of the Audit and Risks Committee may concentrate the two foregoing requirements.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single member of the Audit and Risks Committee may concentrate the two foregoing requirements.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single member of the Audit and Risks Committee may concentrate the two foregoing requirements.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">There is no corresponding d</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">evice.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> To be characterized as an independent member, the member of the Audit and Risk</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Committee must meet the requirements set forth in the applicable CVM regulation, as well as those set out in the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">New Market</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Regulation.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">&#167; 2&nbsp;&nbsp;&nbsp;&nbsp; To be characterized as an independent member, the member of the Audit and Risk</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">s</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> Committee must meet the requirements set forth in the applicable CVM regulation, as well as those set out in the </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">New Market</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> Regulation. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Inclusion to adapt to the provisions of CVM Resolution 23/21, to add to the independence requirements of the N</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">ew</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> M</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">arket</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Regulation, the independence requirements provided for therein to characterize the Committee member as independent.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">There is no corresponding device.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The member of the Audit and Risks Committee who ceases to hold said position may only rejoin the Committee after at least 3 (three) years have elapsed since the end of the term of office.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">&#167; 3&nbsp;&nbsp;&nbsp;&nbsp; The member of the Audit and Risks Committee who ceases to hold said position may only rejoin the Committee after at least 3 (three) years have elapsed since the end of the term of office. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Inclusion to reflect the period provided </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">by the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> CVM Resolution 23/21 for a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">member </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">to exercise the position again.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">4</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Audit and Risks Committee shall:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Numbering</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">adjustment</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) recommend to the Board of Directors the retention and dismissal of independent audit services, as well as propose to the Board of Directors the nomination of the independent auditors </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and their </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">replacement;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) review the Management Report and the financial statements of the Company and of its controlled companies, and provide the recommendations it deems necessary to the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) review the quarterly financial information, interim statements, and financial statements prepared by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) recommend to the Board of Directors the retention and dismissal of independent audit services, as well as propose to the Board of Directors the nomination of the independent auditors </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and their </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">replacement;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) review the Management Report and the financial statements of the Company and of its controlled companies, and provide the recommendations it deems necessary to the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) review the quarterly financial information, interim statements, and financial statements prepared by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) recommend to the Board of Directors the retention and dismissal of independent audit services, as well as propose to the Board of Directors the nomination of the independent auditors </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and their </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">replacement;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) review the Management Report and the financial statements of the Company and of its controlled companies, and provide the recommendations it deems necessary to the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Directors;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) review the quarterly financial information, interim statements, and financial statements prepared by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) monitor the activities of the Company&#8217;s internal audit and internal controls departments, including follow up and assessment of the effectiveness and sufficiency of the internal control structure and of the internal and independent audit processes of the Company and of its controlled companies, including in relation to the provisions set forth in the Sarbanes-Oxley Act, submitting the recommendations it deems necessary for the improvement of policies, practices and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">procedures;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(e) evaluate and monitor the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company&#8217;s risk exposure, as per the Risk Management Policy, as well as to provide its opinion on any review of the contents thereof, in addition to advising the Board of Directors in connection with the setting of acceptable risk </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">levels;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(f) review, monitor and recommend to management any corrections or improvements to be made to the Company&#8217;s corporate </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">policies;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) monitor the activities of the Company&#8217;s internal audit and internal controls departments, including follow up and assessment of the effectiveness and sufficiency of the internal control structure and of the internal and independent audit processes of the Company and of its controlled companies, including in relation to the provisions set forth in the Sarbanes-Oxley Act, submitting the recommendations it deems necessary for the improvement of policies, practices and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">procedures;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(e) evaluate and monitor the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company&#8217;s risk exposure, as per the Risk Management Policy, as well as to provide its opinion on any review of the contents thereof, in addition to advising the Board of Directors in connection with the setting of acceptable risk </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">levels;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(f) review, monitor and recommend to management any corrections or improvements to be made to the Company&#8217;s corporate </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">policies;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) monitor the activities of the Company&#8217;s internal audit and internal controls departments, including follow up and assessment of the effectiveness and sufficiency of the internal control structure and of the internal and independent audit processes of the Company and of its controlled companies, including in relation to the provisions set forth in the Sarbanes-Oxley Act, submitting the recommendations it deems necessary for the improvement of policies, practices and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">procedures;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(e) evaluate and monitor the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Company&#8217;s risk exposure, as per the Risk Management Policy, as well as to provide its opinion on any review of the contents thereof, in addition to advising the Board of Directors in connection with the setting of acceptable risk </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">levels;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(f) review, monitor and recommend to management any corrections or improvements to be made to the Company&#8217;s corporate </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">policies;&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 18.2pt;">
<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(g) establish procedures for the acceptance and handling of information submitted by any party relating to alleged noncompliance with applicable legal and regulatory requirements applicable to the Company, in addition to internal regulations, policies and codes, including procedures for confidential or anonymous submission, safeguarding information </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">secrecy;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(h) interact with the other Company&#8217;s governing bodies in connection with the receipt and review of information on noncompliance with </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">legal and regulatory requirements applicable to the Company, as well as with internal regulations, policies and code; and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) provide its opinion on the matters submitted to it by the Board of Directors, as well as on those matters it determines to be relevant.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(g) establish procedures for the acceptance and handling of information submitted by any party relating to alleged noncompliance with applicable legal and regulatory requirements applicable to the Company, in addition to internal regulations, policies and codes, including procedures for confidential or anonymous submission, safeguarding information </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">secrecy;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(h) interact with the other Company&#8217;s governing bodies in connection with the receipt and review of information on noncompliance with </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">legal and regulatory requirements applicable to the Company, as well as with internal regulations, policies and code; and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) provide its opinion on the matters submitted to it by the Board of Directors, as well as on those matters it determines to be relevant.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(g) establish procedures for the acceptance and handling of information submitted by any party relating to alleged noncompliance with applicable legal and regulatory requirements applicable to the Company, in addition to internal regulations, policies and codes, including procedures for confidential or anonymous submission, safeguarding information </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">secrecy;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(h) interact with the other Company&#8217;s governing bodies in connection with the receipt and review of information on noncompliance with </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">legal and regulatory requirements applicable to the Company, as well as with internal regulations, policies and code; and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">) provide its opinion on the matters submitted to it by the Board of Directors, as well as on those matters it determines to be relevant.</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<tr style="height: 15.85pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> II &#8211; People </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> II &#8211; People </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> II &#8211; People </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 41. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall be comprised of a minimum of two (2) independent Directors, and the other members may be Directors or not.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 41. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> have </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a majority of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Director</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> in its composition,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">with a</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> minimum of two (2) independent Directors.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 41. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">be comprised of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">have </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">a majority of</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> Director</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">s</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> in its composition, with</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a minimum of two (2) independent Directors</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">, and the other members may be Directors or not</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Adjustment to ensure that the People Committee is composed mostly of Company Directors, an improvement in governance.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) propose to the Board of Directors the compensation to be paid to the directors and executive officers and senior employees of the Company and its controlled companies, to the members of the committees and of other governing bodies assisting the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, and periodically revise the parameters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">guidelines and, as a result, the compensation policy and other benefits of the Company and its controlled </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">companies;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) propose to the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, the overall compensation of the directors and executive officers of the Company, which shall be submitted to the Shareholders&#8217; Meeting, and propose the individual compensation of the Board of Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Officers;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) ensure that the Company prepares itself adequately for the succession of its directors, executive officers and other key employees, particularly the Chief Executive Officer and the principal executive officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) carry out diligence and supervise the steps taken to ensure that the Company adopts a model of competence and leadership, attraction, retention and motivation in line with its strategic plans.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) propose to the Board of Directors the compensation to be paid to the directors and executive officers and senior employees of the Company and its controlled companies, to the members of the committees and of other governing bodies assisting the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, and periodically revise the parameters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">guidelines and, as a result, the compensation policy and other benefits of the Company and its controlled </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">companies;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) propose to the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, the overall compensation of the directors and executive officers of the Company, which shall be submitted to the Shareholders&#8217; Meeting, and propose the individual compensation of the Board of Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Officers;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) ensure that the Company prepares itself adequately for the succession of its directors, executive officers and other key employees, particularly the Chief Executive Officer and the principal executive officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) carry out diligence and supervise the steps taken to ensure that the Company adopts a model of competence and leadership, attraction, retention and motivation in line with its strategic plans.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The People Committee shall:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) propose to the Board of Directors the compensation to be paid to the directors and executive officers and senior employees of the Company and its controlled companies, to the members of the committees and of other governing bodies assisting the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, and periodically revise the parameters and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">guidelines and, as a result, the compensation policy and other benefits of the Company and its controlled </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">companies;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) propose to the Board of Directors, pursuant to the proposal received from the Chief Executive Officer, the overall compensation of the directors and executive officers of the Company, which shall be submitted to the Shareholders&#8217; Meeting, and propose the individual compensation of the Board of Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Officers;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) ensure that the Company prepares itself adequately for the succession of its directors, executive officers and other key employees, particularly the Chief Executive Officer and the principal executive officers; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(d) carry out diligence and supervise the steps taken to ensure that the Company adopts a model of competence and leadership, attraction, retention and motivation in line with its strategic plans.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> III &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> III &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> III &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 42. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Strategy Committee shall be comprised entirely of Directors and its duties shall be as follows:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 42. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Strategy Committee will have </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a majority of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Directors in its composition</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 42</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Strategy Committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">will have </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">a majority of</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;"> Directors in its composition</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">shall be comprised entirely of Directors and its duties shall be as follows:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Adjustment to ensure that the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> Committee is composed mostly of Company Directors, an improvement in governance.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph. The Strategy Committee shall be comprised entirely of Directors and its duties shall be as follows:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">Sole Paragraph. The Strategy Committee shall be comprised entirely of Directors and its duties shall be as follows:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Paragraph adjustment</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">to reflect the changes amended in the caput of the newly created article 42</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) to advise the Board of Directors in overall business direction, as well as in the drafting and monitoring of the Company&#8217;s strategic plans and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">budgets;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) to provide its opinion on, and monitor, the Company&#8217;s strategic partnerships and main investments, as provided in the Investment Policy; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) to provide its opinion on the capital allocation strategy and on the management of the Company&#8217;s portfolio, including mergers and acquisitions. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) to advise the Board of Directors in overall business direction, as well as in the drafting and monitoring of the Company&#8217;s strategic plans and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">budgets;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) to provide its opinion on, and monitor, the Company&#8217;s strategic partnerships and main investments, as provided in the Investment Policy; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) to provide its opinion on the capital allocation strategy and on the management of the Company&#8217;s portfolio, including mergers and acquisitions. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a) to advise the Board of Directors in overall business direction, as well as in the drafting and monitoring of the Company&#8217;s strategic plans and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">budgets;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b) to provide its opinion on, and monitor, the Company&#8217;s strategic partnerships and main investments, as provided in the Investment Policy; and</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(c) to provide its opinion on the capital allocation strategy and on the management of the Company&#8217;s portfolio, including mergers and acquisitions. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VIII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Conselho</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> Fiscal</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">)</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 43.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s Fiscal Council shall be non-permanent and, when installed by the Shareholders&#8217; Meeting as provided in Law 6,404/76, shall be comprised of three (3) members and an equal number of alternate members, with such duties, powers and compensation as provided for by law.&nbsp; The Fiscal Council shall have a term of office of one (1) year, with reelection being permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER VIII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Conselho</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> Fiscal</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">)</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 43.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s Fiscal Council shall be non-permanent and, when installed by the Shareholders&#8217; Meeting as provided in Law 6,404/76, shall be comprised of three (3) members and an equal number of alternate members, with such duties, powers and compensation as provided for by law.&nbsp; The Fiscal Council shall have a term of office of one (1) year, with reelection being permitted.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;">Conselho</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: 0.8pt;"> Fiscal</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">)</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 43.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s Fiscal Council shall be non-permanent and, when installed by the Shareholders&#8217; Meeting as provided in Law 6,404/76, shall be comprised of three (3) members and an equal number of alternate members, with such duties, powers and compensation as provided for by law.&nbsp; The Fiscal Council shall have a term of office of one (1) year, with reelection being permitted.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1 Once the Fiscal Council has been installed, the commencement of the term of its full and alternate members shall be conditioned on the execution of the respective indeed of investiture, which shall cover their consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1 Once the Fiscal Council has been installed, the commencement of the term of its full and alternate members shall be conditioned on the execution of the respective indeed of investiture, which shall cover their consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 1 Once the Fiscal Council has been installed, the commencement of the term of its full and alternate members shall be conditioned on the execution of the respective indeed of investiture, which shall cover their consent to the contents of Article 52 hereof.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Fiscal Council shall hold regular meetings once every quarter, and extraordinary </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">meetings</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> whenever necessary, and shall keep minutes of such meetings in the Company&#8217;s records.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Fiscal Council shall hold regular meetings once every quarter, and extraordinary </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">meetings</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> whenever necessary, and shall keep minutes of such meetings in the Company&#8217;s records.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Fiscal Council shall hold regular meetings once every quarter, and extraordinary </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">meetings</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> whenever necessary, and shall keep minutes of such meetings in the Company&#8217;s records.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 25%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, these Bylaws </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Fiscal Council.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 25%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, these Bylaws </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Fiscal Council.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 25%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The same obligations and restrictions imposed by law, these Bylaws </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">and the New Market Regulation on the directors and executive officers of the Company shall apply to the members of the Fiscal Council.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IX</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Tender </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Offers</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IX</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Tender </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Offers</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER IX</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Tender </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Offers</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Sale of a Controlling Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 44. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A direct or indirect sale of the controlling interest in the Company, either in a single transaction, or in a series of successive transactions, shall be conditioned upon the buyer making a tender offer for shares issued by the Company held by the remaining shareholders, subject to the conditions and terms set forth under the applicable laws and regulations and in the New Market Regulation, in order to provide shareholders equal treatment to that afforded to the seller.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Sale of a Controlling Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 44. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A direct or indirect sale of the controlling interest in the Company, either in a single transaction, or in a series of successive transactions, shall be conditioned upon the buyer making a tender offer for shares issued by the Company held by the remaining shareholders, subject to the conditions and terms set forth under the applicable laws and regulations and in the New Market Regulation, in order to provide shareholders equal treatment to that afforded to the seller.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section I &#8211; Sale of a Controlling Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 44. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A direct or indirect sale of the controlling interest in the Company, either in a single transaction, or in a series of successive transactions, shall be conditioned upon the buyer making a tender offer for shares issued by the Company held by the remaining shareholders, subject to the conditions and terms set forth under the applicable laws and regulations and in the New Market Regulation, in order to provide shareholders equal treatment to that afforded to the seller.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The buyer of a controlling interest shall, after the financial settlement of the foregoing tender offer, take the appropriate actions to, over the course of the subsequent eighteen (18) months, restore the minimum percentage of outstanding shares as per the New Market Regulation.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The buyer of a controlling interest shall, after the financial settlement of the foregoing tender offer, take the appropriate actions to, over the course of the subsequent eighteen (18) months, restore the minimum percentage of outstanding shares as per the New Market Regulation.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The buyer of a controlling interest shall, after the financial settlement of the foregoing tender offer, take the appropriate actions to, over the course of the subsequent eighteen (18) months, restore the minimum percentage of outstanding shares as per the New Market Regulation.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Acquisition of Relevant Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 45. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Any person, regardless of whether he/she is a shareholder, which, on his/her own account or through Joint Action with another person (&#8220;Purchaser of a Relevant Interest&#8221;), acquires or becomes the holder of Company shares, through a single transaction or a series of successive transactions, representing twenty percent (20%) or more of its capital stock (&#8220;Relevant Interest&#8221;), shall be required to make a tender offer for the acquisition of the shares held by the remaining shareholders at a price equal to the highest value per share paid by him/her in the preceding six (6) months, adjusted pursuant to the SELIC Rate.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Acquisition of Relevant Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 45. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Any person, regardless of whether he/she is a shareholder, which, on his/her own account or through Joint Action with another person (&#8220;Purchaser of a Relevant Interest&#8221;), acquires or becomes the holder of Company shares, through a single transaction or a series of successive transactions, representing twenty percent (20%) or more of its capital stock (&#8220;Relevant Interest&#8221;), shall be required to make a tender offer for the acquisition of the shares held by the remaining shareholders at a price equal to the highest value per share paid by him/her in the preceding six (6) months, adjusted pursuant to the SELIC Rate.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section II &#8211; Acquisition of Relevant Interest</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 45. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Any person, regardless of whether he/she is a shareholder, which, on his/her own account or through Joint Action with another person (&#8220;Purchaser of a Relevant Interest&#8221;), acquires or becomes the holder of Company shares, through a single transaction or a series of successive transactions, representing twenty percent (20%) or more of its capital stock (&#8220;Relevant Interest&#8221;), shall be required to make a tender offer for the acquisition of the shares held by the remaining shareholders at a price equal to the highest value per share paid by him/her in the preceding six (6) months, adjusted pursuant to the SELIC Rate.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Purchaser of a Relevant Interest shall not be required to make the tender offer provided for in this Article, in case he/she shall timely and cumulatively: (a) notify the Company of his/her intent to exercise the right provided for in this Paragraph within forty-eight (48) hours from the time he/she becomes owner of the Relevant Interest; and (b) sell, on a stock exchange, the number of shares of capital stock of the Company that exceeds the Relevant Interest, within thirty (30) days from the date of the notice mentioned in item (a) of this Paragraph.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Purchaser of a Relevant Interest shall not be required to make the tender offer provided for in this Article, in case he/she shall timely and cumulatively: (a) notify the Company of his/her intent to exercise the right provided for in this Paragraph within forty-eight (48) hours from the time he/she becomes owner of the Relevant Interest; and (b) sell, on a stock exchange, the number of shares of capital stock of the Company that exceeds the Relevant Interest, within thirty (30) days from the date of the notice mentioned in item (a) of this Paragraph.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Purchaser of a Relevant Interest shall not be required to make the tender offer provided for in this Article, in case he/she shall timely and cumulatively: (a) notify the Company of his/her intent to exercise the right provided for in this Paragraph within forty-eight (48) hours from the time he/she becomes owner of the Relevant Interest; and (b) sell, on a stock exchange, the number of shares of capital stock of the Company that exceeds the Relevant Interest, within thirty (30) days from the date of the notice mentioned in item (a) of this Paragraph.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2 For purposes of calculating the limit of twenty percent (20%) set forth in the introductory paragraph of this Article, treasury shares held by the Company shall be excluded. </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2 For purposes of calculating the limit of twenty percent (20%) set forth in the introductory paragraph of this Article, treasury shares held by the Company shall be excluded. </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;2 For purposes of calculating the limit of twenty percent (20%) set forth in the introductory paragraph of this Article, treasury shares held by the Company shall be excluded. </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;3 The offer referred to in this Article shall not be required in the event any shareholder, or shareholders joined by a voting agreement registered with the Company, or shareholders who have a controlling relationship or are under common control are holders of more than one-half of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the capital stock at the time of the acquisition of the Relevant Interest, excluding, for effects of such calculation, treasury shares held by the Company.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;3 The offer referred to in this Article shall not be required in the event any shareholder, or shareholders joined by a voting agreement registered with the Company, or shareholders who have a controlling relationship or are under common control are holders of more than one-half of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the capital stock at the time of the acquisition of the Relevant Interest, excluding, for effects of such calculation, treasury shares held by the Company.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;3 The offer referred to in this Article shall not be required in the event any shareholder, or shareholders joined by a voting agreement registered with the Company, or shareholders who have a controlling relationship or are under common control are holders of more than one-half of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the capital stock at the time of the acquisition of the Relevant Interest, excluding, for effects of such calculation, treasury shares held by the Company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;4 The obligation to carry out the offer provided for in the introductory paragraph of this Article shall not apply in the event the obligation to carry out the offer provided for in Article 44 applies.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;4 The obligation to carry out the offer provided for in the introductory paragraph of this Article shall not apply in the event the obligation to carry out the offer provided for in Article 44 applies.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;4 The obligation to carry out the offer provided for in the introductory paragraph of this Article shall not apply in the event the obligation to carry out the offer provided for in Article 44 applies.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211;Deregistration as Publicly-Held Company and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Withdrawal from the New Market</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 46.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s deregistration as a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">publicly-held</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> company, shall be preceded by a tender offer for shares at a fair price, such a tender offer to abide by the procedures and requirements set forth in Law 6,404/76 and the CVM regulations governing tender offers for the purposes of deregistration as a publicly held company.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211;Deregistration as Publicly-Held Company and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Withdrawal from the New Market</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 46.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s deregistration as a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">publicly-held</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> company, shall be preceded by a tender offer for shares at a fair price, such a tender offer to abide by the procedures and requirements set forth in Law 6,404/76 and the CVM regulations governing tender offers for the purposes of deregistration as a publicly held company.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Section III &#8211;Deregistration as Publicly-Held Company and </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Withdrawal from the New Market</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 46.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company&#8217;s deregistration as a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">publicly-held</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> company, shall be preceded by a tender offer for shares at a fair price, such a tender offer to abide by the procedures and requirements set forth in Law 6,404/76 and the CVM regulations governing tender offers for the purposes of deregistration as a publicly held company.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 47.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s withdrawal from the New Market, be it voluntary, mandatory or as a result of a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">corporate reorganization, shall abide by the rules set forth in the New Market Regulation.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 47.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s withdrawal from the New Market, be it voluntary, mandatory or as a result of a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">corporate reorganization, shall abide by the rules set forth in the New Market Regulation.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 47.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> The Company&#8217;s withdrawal from the New Market, be it voluntary, mandatory or as a result of a </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">corporate reorganization, shall abide by the rules set forth in the New Market Regulation.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 48.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">As provided in the New Market Regulation and except for the provisions of Article 49, next, the Company&#8217;s voluntary withdrawal from the New Market, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in order for</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> its shares to be registered outside the New Market shall be preceded by a tender offer for shares in line with the procedures set forth in CVM Regulations governing tender offers for shares for the purposes of deregistration as a publicly listed company, and the following requirements:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 48.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> As provided in the New Market Regulation and except for the provisions of Article 49, next, the Company&#8217;s voluntary withdrawal from the New Market, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in order for</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> its shares to be registered outside the New Market shall be preceded by a tender offer for shares in line with the procedures set forth in CVM Regulations governing tender offers for shares for the purposes of deregistration as a publicly listed company, and the following requirements:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 48.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> As provided in the New Market Regulation and except for the provisions of Article 49, next, the Company&#8217;s voluntary withdrawal from the New Market, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in order for</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> its shares to be registered outside the New Market shall be preceded by a tender offer for shares in line with the procedures set forth in CVM Regulations governing tender offers for shares for the purposes of deregistration as a publicly listed company, and the following requirements:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the price of the tender shall be fair and calculated pursuant to the parameters set forth in Article 4-A of Law 6,404/76 and the applicable CVM Regulations;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the price of the tender shall be fair and calculated pursuant to the parameters set forth in Article 4-A of Law 6,404/76 and the applicable CVM Regulations;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the price of the tender shall be fair and calculated pursuant to the parameters set forth in Article 4-A of Law 6,404/76 and the applicable CVM Regulations;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">holders of interests in excess of one-third (1/3) of shares outstanding shall accept the tender offer or explicitly agree with withdrawal from the segment without selling their shares.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">holders of interests in excess of one-third (1/3) of shares outstanding shall accept the tender offer or explicitly agree with withdrawal from the segment without selling their shares.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">holders of interests in excess of one-third (1/3) of shares outstanding shall accept the tender offer or explicitly agree with withdrawal from the segment without selling their shares.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; For the purposes of Article 48, item &#8220;b&#8221;, of the present Bylaws, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">outstanding shares shall be only those whose holders explicitly agree with withdrawal from the New Market or qualify for the tender offer auction as per the CVM regulations governing tender offers for the purposes of deregistration as a publicly listed company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; For the purposes of Article 48, item &#8220;b&#8221;, of the present Bylaws, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">outstanding shares shall be only those whose holders explicitly agree with withdrawal from the New Market or qualify for the tender offer auction as per the CVM regulations governing tender offers for the purposes of deregistration as a publicly listed company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; For the purposes of Article 48, item &#8220;b&#8221;, of the present Bylaws, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">outstanding shares shall be only those whose holders explicitly agree with withdrawal from the New Market or qualify for the tender offer auction as per the CVM regulations governing tender offers for the purposes of deregistration as a publicly listed company.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 49.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Voluntary withdrawal from the New Market as provided in foregoing Article 48 may take place irrespective of a tender offer if such a waiver is approved by the Shareholders&#8217; Assembly, to convene: </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on first call with the attendance of shareholders representing, at least, two-thirds (2/3) of all shares outstanding; or </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on second call with any number of holders of outstanding shares in attendance.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 49.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Voluntary withdrawal from the New Market as provided in foregoing Article 48 may take place irrespective of a tender offer if such a waiver is approved by the Shareholders&#8217; Assembly, to convene: </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on first call with the attendance of shareholders representing, at least, two-thirds (2/3) of all shares outstanding; or </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on second call with any number of holders of outstanding shares in attendance.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 49.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Voluntary withdrawal from the New Market as provided in foregoing Article 48 may take place irrespective of a tender offer if such a waiver is approved by the Shareholders&#8217; Assembly, to convene: </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(a)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on first call with the attendance of shareholders representing, at least, two-thirds (2/3) of all shares outstanding; or </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">on second call with any number of holders of outstanding shares in attendance.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; The decision regarding the foregoing waiver of a tender offer shall be made by a majority vote of the holders of outstanding shares in attendance at the Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; The decision regarding the foregoing waiver of a tender offer shall be made by a majority vote of the holders of outstanding shares in attendance at the Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Sole Paragraph &#8211; The decision regarding the foregoing waiver of a tender offer shall be made by a majority vote of the holders of outstanding shares in attendance at the Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arti</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">cle</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> 50</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single tender offer may be made for more than one of the purposes provided for in this </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Chapter, in the New Market Regulation, in Law 6,404/76 or in the regulations issued by the CVM, provided that the procedures used in the tender offer are compatible with all requirements of each different tender offer, the tender offer offerees do not suffer any damages and the authorization of the CVM is obtained, when required by applicable law.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arti</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">cle</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> 50</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single tender offer may be made for more than one of the purposes provided for in this </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Chapter, in the New Market Regulation, in Law 6,404/76 or in the regulations issued by the CVM, provided that the procedures used in the tender offer are compatible with all requirements of each different tender offer, the tender offer offerees do not suffer any damages and the authorization of the CVM is obtained, when required by applicable law.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arti</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">cle</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> 50</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">A single tender offer may be made for more than one of the purposes provided for in this </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Chapter, in the New Market Regulation, in Law 6,404/76 or in the regulations issued by the CVM, provided that the procedures used in the tender offer are compatible with all requirements of each different tender offer, the tender offer offerees do not suffer any damages and the authorization of the CVM is obtained, when required by applicable law.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 51</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: Calibri; font-size: 11pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">To the extent the rights provided for in these Bylaws to shareholders with respect to tender offers are affected, the rules set forth by the New Market Regulation will prevail over the provisions herein.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 51</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: Calibri; font-size: 11pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">To the extent the rights provided for in these Bylaws to shareholders with respect to tender offers are affected, the rules set forth by the New Market Regulation will prevail over the provisions herein.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 51</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: Calibri; font-size: 11pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">To the extent the rights provided for in these Bylaws to shareholders with respect to tender offers are affected, the rules set forth by the New Market Regulation will prevail over the provisions herein.&nbsp; &nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER X</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arbitration Court</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 52.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, its shareholders, directors and executive officers and the full and alternate members of the Fiscal Council, if any, are required to submit to arbitration at the Market Arbitration Tribunal, pursuant to the rules thereof, any and all controversies arising between them, either related to or resulting from their status as issuer, shareholders, managers and members of the Fiscal Council, in particular if arising from the provisions set forth in Law 6,385/76, Law 6,404/76, in the Bylaws, in the rules enacted by the National Monetary Council, the Central Bank of Brazil and the CVM, as well as other rules applicable to capital markets in general, in addition to those set forth in the New Market Regulation, other B3 regulations and the New Market Participation Agreement.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER X</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arbitration Court</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 52.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, its shareholders, directors and executive officers and the full and alternate members of the Fiscal Council, if any, are required to submit to arbitration at the Market Arbitration Tribunal, pursuant to the rules thereof, any and all controversies arising between them, either related to or resulting from their status as issuer, shareholders, managers and members of the Fiscal Council, in particular if arising from the provisions set forth in Law 6,385/76, Law 6,404/76, in the Bylaws, in the rules enacted by the National Monetary Council, the Central Bank of Brazil and the CVM, as well as other rules applicable to capital markets in general, in addition to those set forth in the New Market Regulation, other B3 regulations and the New Market Participation Agreement.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER X</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Arbitration Court</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 52.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company, its shareholders, directors and executive officers and the full and alternate members of the Fiscal Council, if any, are required to submit to arbitration at the Market Arbitration Tribunal, pursuant to the rules thereof, any and all controversies arising between them, either related to or resulting from their status as issuer, shareholders, managers and members of the Fiscal Council, in particular if arising from the provisions set forth in Law 6,385/76, Law 6,404/76, in the Bylaws, in the rules enacted by the National Monetary Council, the Central Bank of Brazil and the CVM, as well as other rules applicable to capital markets in general, in addition to those set forth in the New Market Regulation, other B3 regulations and the New Market Participation Agreement.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<th style="background-color: #323e4f; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Year</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 53.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The fiscal year begins on January 1st and ends on December 31st of each year.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Year</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 53.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The fiscal year begins on January 1st and ends on December 31st of each year.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XI</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Fiscal Year</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 53.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The fiscal year begins on January 1st and ends on December 31st of each year.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 54.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">After the balance sheet and the other financial statements are prepared, and after the deduction of accrued losses, the provision for income tax and, if applicable, the provision for directors&#8217; and executive officers&#8217; annual profit sharing, five percent (5%) of the net profit will be allocated to the legal reserve, up to the limit of twenty percent (20%) of the capital stock.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1 The remaining profit will have the following destination:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 54.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">After the balance sheet and the other financial statements are prepared, and after the deduction of accrued losses, the provision for income tax and, if applicable, the provision for directors&#8217; and executive officers&#8217; annual profit sharing, five percent (5%) of the net profit will be allocated to the legal reserve, up to the limit of twenty percent (20%) of the capital stock.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1 The remaining profit will have the following destination:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 54.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">After the balance sheet and the other financial statements are prepared, and after the deduction of accrued losses, the provision for income tax and, if applicable, the provision for directors&#8217; and executive officers&#8217; annual profit sharing, five percent (5%) of the net profit will be allocated to the legal reserve, up to the limit of twenty percent (20%) of the capital stock.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167;1 The remaining profit will have the following destination:</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) fifty percent (50%) for payment of the mandatory dividend to the shareholders, deducted by semiannual or interim dividends that may have already been distributed; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">twenty-five</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> percent (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">%) for payment of the mandatory dividend to the shareholders, deducted by semiannual or interim dividends that may have already been distributed; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">a) </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">twenty-five percent (25</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">%)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">fifty</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;"> percent (50%)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">for payment of the mandatory dividend to the shareholders, deducted by semiannual or interim dividends that may have already been distributed; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The adjustment to the minimum percentage provided for in article 202, &#167; 2 of Law No. 6,404/76 aims to give greater flexibility to the amounts of dividend distribution and cash management, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in light of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> investment opportunities and debt reduction and their respective financial costs. The possibility of distribution above the established minimum threshold will remain, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">light of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the same parameters.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Current</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Amended</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">by proposal of the managing bodies, up to fifty percent (50%) for creating an investment reserve, aimed at protecting the integrity of the Company&#180;s assets and to supplement its capital stock, in order to allow new investments to be made, up to the limit of one hundred percent (100%) of the capital stock, provided that the balance of such reserve, when combined with other profit reserve balances, except for the unrealized profit reserve and the contingency reserves, shall not exceed one hundred percent (100%) of the capital stock and, once such limit is reached, the shareholders&#8217; meeting shall determine the allocation of the surplus through an increase of the capital stock or in the distribution of dividends; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">by proposal of the managing bodies, up to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">seventy-five percent </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">75</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">%) for creating an investment reserve, aimed at protecting the integrity of the Company&#180;s assets and to supplement its capital stock, in order to allow new investments to be made, up to the limit of one hundred percent (100%) of the capital stock, provided that the balance of such reserve, when combined with other profit reserve balances, except for the unrealized profit reserve and the contingency reserves, shall not exceed one hundred percent (100%) of the capital stock and, once such limit is reached, the shareholders&#8217; meeting shall determine the allocation of the surplus through an increase of the capital stock or in the distribution of dividends; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">by proposal of the managing bodies, up to</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: underline;">seventy-five percent (75%)</font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> </font><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt; text-decoration: line-through;">fifty percent (50%)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> for creating an investment reserve, aimed at protecting the integrity of the Company&#180;s assets and to supplement its capital stock, in order to allow new investments to be made, up to the limit of one hundred percent (100%) of the capital stock, provided that the balance of such reserve, when combined with other profit reserve balances, except for the unrealized profit reserve and the contingency reserves, shall not exceed one hundred percent (100%) of the capital stock and, once such limit is reached, the shareholders&#8217; meeting shall determine the allocation of the surplus through an increase of the capital stock or in the distribution of dividends; and</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Considering the proposed reduction of the minimum mandatory dividend, it is necessary to adjust the maximum percentage to be allocated to the investment reserve</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> so that all net income for the year is allocated.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) the balance will be allocated according to the resolution adopted at the Shareholders&#8217; Meeting, which will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">take into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors&#8217; proposal.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) the balance will be allocated according to the resolution adopted at the Shareholders&#8217; Meeting, which will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">take into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors&#8217; proposal.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">c) the balance will be allocated according to the resolution adopted at the Shareholders&#8217; Meeting, which will </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">take into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;"> the Board of Directors&#8217; proposal.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Proposed</font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">version</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ffffff; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Comments/Justifications on Proposed Changes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may, in addition to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the annual balance sheet, prepare semiannual or interim balance sheets at any time, and the Board of Directors may, ad referendum of the Shareholders&#8217; Meeting, declare interim dividends to the account of retained earnings or profit reserves recorded in its latest annual or semiannual balance sheets.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may, in addition to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the annual balance sheet, prepare semiannual or interim balance sheets at any time, and the Board of Directors may, ad referendum of the Shareholders&#8217; Meeting, declare interim dividends to the account of retained earnings or profit reserves recorded in its latest annual or semiannual balance sheets.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company may, in addition to </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">the annual balance sheet, prepare semiannual or interim balance sheets at any time, and the Board of Directors may, ad referendum of the Shareholders&#8217; Meeting, declare interim dividends to the account of retained earnings or profit reserves recorded in its latest annual or semiannual balance sheets.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Dividends not claimed within three (3) years from the date they were made available to the shareholders shall be forfeited to the Company.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Dividends not claimed within three (3) years from the date they were made available to the shareholders shall be forfeited to the Company.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&#167; 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">Dividends not claimed within three (3) years from the date they were made available to the shareholders shall be forfeited to the Company.&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Miscellaneous</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 55.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be liquidated as provided for by law, and the Shareholders&#180; Meeting shall decide the method of liquidation, appoint the liquidator and elect the Fiscal Council to operate during the liquidation process.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Miscellaneous</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 55.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be liquidated as provided for by law, and the Shareholders&#180; Meeting shall decide the method of liquidation, appoint the liquidator and elect the Fiscal Council to operate during the liquidation process.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">CHAPTER XII</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Miscellaneous</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; page-break-after: avoid;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 55.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The Company shall be liquidated as provided for by law, and the Shareholders&#180; Meeting shall decide the method of liquidation, appoint the liquidator and elect the Fiscal Council to operate during the liquidation process.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 56.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The minutes of the Shareholders&#8217; Meetings, as well as the minutes of meetings of the Board of Directors and of the Board of Executive Officers, shall be mechanically issued, in separate pages, and signed by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attendees, for subsequent bookbinding. In the event they contain resolutions affecting third parties, they shall be filed with the Commerce Registry Office and published.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 56.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The minutes of the Shareholders&#8217; Meetings, as well as the minutes of meetings of the Board of Directors and of the Board of Executive Officers, shall be mechanically issued, in separate pages, and signed by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attendees, for subsequent bookbinding. In the event they contain resolutions affecting third parties, they shall be filed with the Commerce Registry Office and published.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 23%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">Article 56.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.8pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">The minutes of the Shareholders&#8217; Meetings, as well as the minutes of meetings of the Board of Directors and of the Board of Executive Officers, shall be mechanically issued, in separate pages, and signed by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">attendees, for subsequent bookbinding. In the event they contain resolutions affecting third parties, they shall be filed with the Commerce Registry Office and published.</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.8pt;">N/A</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">(Convenience Translation into English from</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">the Original Previously Issued in Portuguese)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 22pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 22pt; font-weight: bold;">&nbsp;</font></p>
<div style="margin: 2pt 0pt 0pt; text-align: center;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none;" href="#TOC" name="BE2_X15G69PM6O00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 22pt; font-weight: bold;">Ultrapar Participa&#231;&#245;es S.A</font><font style="font-family: 'Times New Roman'; font-size: 22pt; font-weight: bold;">.</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt;">&nbsp;</font></p>
<div style="margin: 2pt 0pt 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BA_DBWBHWFQRK00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">Parent&#8217;s Separate and Consolidated</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">Financial </font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">Statements for </font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">the </font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">Year</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">Ended </font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">December</font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;"> 3</font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">1</font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">, 202</font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;">1</font><font style="font-family: 'Times New Roman'; font-size: 18pt; font-style: italic;"> and</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 18pt; font-style: italic;">Independent Auditor&#8217;s Report in the Individual and Consolidated Financial Statements</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 18pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">KPMG Auditores Independentes</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultrapar Participa&#231;&#245;es S.A. and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Subsidiaries</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and Consolidated </font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Financial </font><font style="font-family: 'Times New Roman';">Statements</font><font style="font-family: 'Times New Roman';"> </font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Years</font><font style="font-family: 'Times New Roman';"> Ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">1 and 2020</font></font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
&#8203;
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<td style="width: 86.6731%; height: 49px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="TOC"></a>
<h4 style="vertical-align: middle; text-align: left;">Table of Content</h4>
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<tr style="height: 17px;">
<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#Bj_C6397BE19C00000000000000000000">Independent Auditor&#8217;s Report in the Individual and Consolidated Financial Statements</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">1-4</td>
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<tr style="height: 17px;">
<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B4_4JQPU3TR3K00000000000000000000">Statements of Financial Position</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">5-6</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B33_B8AW6OI4S000000000000000000000">Statements of Profit or Loss</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">7</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B666_7D38SO8FGW00000000000000000000">Statements of Comprehensive Income</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">8</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B212121_VA60FQG6CG00000000000000000000">Statements of Changes in Equity</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">9-10</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B565656_PLIK6EOIF400000000000000000000">Statements of Cash Flows &#8211; Indirect Method</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">11-12</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#B545454_5NIOFGL6DS00000000000000000000">Statements of Value Added</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">13</td>
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<td style="padding: 0px 0px 15px; width: 86.6731%; height: 17px;"><a href="#BMMMMM_NWSL5XWXJ400000000000000000000">Notes to the Financial Statements</a></td>
<td style="width: 6.5817%; text-align: center; height: 17px;">14-149</td>
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<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; line-height: 16.8667px; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(Convenience Translation into English from the Original Previously Issued in Portuguese)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><img src="img9b5077b1eeba4ef38dbf.jpg" alt="Graphics"></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">KPMG Auditores Independentes Ltda.</font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">Rua Arquiteto Olavo Redig de Campos, 105, 6&#186; andar - Torre A</font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">04711-904 - S&#227;o Paulo/SP - Brasil </font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">Caixa Postal 79518 - CEP 04707-970 - S&#227;o Paulo/SP - Brasil</font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">Telefone +55 (11) 3940-1500</font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">kpmg.com.br</font></font></p>
<p style="margin: 1pt 0cm; line-height: 14pt; text-indent: -0.5pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;">&nbsp;</font></font></p>
<p align="left" style="text-align: left; margin: 0cm 0cm 0.0001pt; line-height: 13pt; font-size: 11pt; font-family: Times, 'serif';"><font style="font-family: 'times new roman', times;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="font-size: 10pt;">&nbsp;</font></b></font></p>
<div style="line-height: 16pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 16pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="Bj_C6397BE19C00000000000000000000" class="customBookmark"><font style="font-family: 'times new roman', times;"><font style="font-weight: bold;">Independent </font><font style="font-weight: bold;">Auditor&#8217;s</font><font style="font-weight: bold;"> Report in the Individual and Consolidated Financial Statements</font></font></a></font></div>
<p style="text-indent: -0.5pt; margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><br></p>
<p align="left" style="text-align: left; margin: 0cm 0cm 0.0001pt; line-height: 13pt; font-size: 11pt; font-family: Times, 'serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US">To the Shareholders of the </font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="color: windowtext;">Ultrapar Participa&#231;&#245;es S.A.</font></b></font></p>
<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US" style="color: windowtext;">S&#227;o Paulo - SP</font></font></p>
<p style="margin: 0px; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"><br></font></font></font></p>
<h2 style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US">Opinion</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="font-weight: normal;"></font></font></font></h2>
<p style="margin: 0px; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"><br></font></font></font></p>
<p style="margin: 0cm 0cm 6pt; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">We have audited the individual and consolidated financial statements of Ultrapar Participa&#231;&#245;es S.A. (&#8220;the Company&#8221;), respectively referred to as Parent and Consolidated, which comprise the statement of financial position as at December 31, 2021, the statements of income and other comprehensive income, changes in equity and cash flows for the year then ended, and notes, comprising significant accounting policies and other explanatory information.</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-GB" style="color: windowtext;"></font></font></font></p>
<p style="margin: 0cm 0cm 6pt; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">In our opinion, the accompanying financial statements present fairly, in all material respects, the individual and consolidated financial position of the Ultrapar Participa&#231;&#245;es S.A. as at December 31, 2021, and of its individual and consolidated financial performance and its cash flows for the year then ended in accordance with Accounting Practices Adopted in Brazil and with International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB).</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-GB" style="color: windowtext;"></font></font></font></p>
<h2 style="margin-left: 35.45pt; text-indent: -35.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US">Basis for Opinion</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="font-weight: normal;"></font></font></font></h2>
<p style="margin: 0cm 0cm 6pt; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">We conducted our audit in accordance with Brazilian and International Standards on Auditing. Our responsibilities under those standards are further described in the Auditors&#8217; Responsibilities for the Audit of the Individual and Consolidated Financial Statements section of our report. We are independent of the Company and its subsidiaries in accordance with the relevant ethical requirements included in the Accountant Professional Code of Ethics (&#8220;C&#243;digo de &#201;tica Profissional do Contador&#8221;) and in the professional standards issued by the Brazilian Federal Accounting Council (&#8220;Conselho Federal de Contabilidade&#8221;) and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-GB" style="color: windowtext;"></font></font></font></p>
<h2 style="margin-left: 35.45pt; text-indent: -35.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US">Key audit matter</font></font></h2>
<p style="margin: 0cm 0cm 6pt; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">Key audit matter is those matter that, in our professional judgment, were of most significance in our audit of the current period. This matter was addressed in the context of our audit of the individual and consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on this matter.</font></font></font></p>
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<p style="margin: 0px; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"><br></font></font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><img src="img9b5077b1eeba4ef38dbf.jpg" alt="Graphics"></font></font></p>
<h3 style="margin: 6.5pt 5.65pt .0001pt .05pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="color: windowtext;">Realization of deferred tax assets</font></b></font></h3>
<p><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="color: windowtext;"><br></font></b></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US"><font style="font-size: 10pt;">As of December 31, 2021, the individual and consolidated financial statements include deferred tax asset amounts equivalent to R$ 571,755, of which R$ 423,410 are related to temporary differences and R$ 148,345 thousand are related to tax losses, considered recoverable based on the generation of future taxable profits.</font></font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US"><font style="font-size: 10pt;"><br></font></font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US" style="color: windowtext;">Estimates of future taxable income generation include the use of assumptions, judgments and estimates on cash flows, such as revenue growth rates, estimates of cost and expense growth, and contribution margin, which involve high degree of complexity and judgments that impact the expectation of realization of deferred tax assets in the coming years. Therefore, we consider this matter to be significant for our audit.</font></font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US" style="color: windowtext;"><br></font></font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">Our Response</font></b></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our audit procedures included, among others:</font></p>
<ul type="disc" style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Evaluation of the design,&nbsp;implementation&nbsp;and effectiveness of the internal control of financial projections related to the realization of the registered deferred taxes.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Within&nbsp;the&nbsp;involvement&nbsp;of our corporate finance specialists,&nbsp;for the&nbsp;assumptions and data&nbsp;used by the Company in preparing the study of future taxable profits considering the projections of future cash flows.&nbsp;Also&nbsp;to assess the accuracy of the recorded balances.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Comparison of the budgets approved in the previous year with the actual values &#8203;&#8203;calculated in the current year.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Assessment whether the disclosures in the individual and consolidated financial statements consider all relevant information regarding deferred tax assets.</font></li>
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<p style="margin: 0pt 0pt 8pt; font-size: 11pt; font-family: Calibri, 'sans-serif'; line-height: 1.1; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="color: windowtext; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As a result of the evidence obtained through the audit procedures summarized above, we consider that the amount of deferred tax assets&nbsp;recorded&nbsp;and the respective disclosures are acceptable in the context of the individual and consolidated financial statements taken as a whole.</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: windowtext; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br></font></font></p>
<h2 style="margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US">Other matters</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US"> </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US">- Statements of value added</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="font-weight: normal;"></font></font></font></h2>
<p style="margin: 0cm 0cm 6pt; line-height: 12pt; font-size: 9.5pt; font-family: 'Univers LT Std 45 Light', 'sans-serif'; color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">The individual and consolidated statements of value added (DVA) for the year ended December 31,</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> 2021</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> prepared under the responsibility of the </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">Company&#8217;s</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> management</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">,</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> and presented herein as supplementary information for IFRS purposes, have been subject to audit procedures jointly performed with the audit of the </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">Company's</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> financial statements. </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"><font style="mso-spacerun: yes;">&nbsp;</font></font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">In order </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">to</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> form </font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">our</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> opinion</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">,</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> we assessed whether those statements are reconciled with the financial statements and accounting records, as applicable, and whether their format and contents are in accordance with criteria determined in the Technical Pronouncement 09 (</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">CPC 09) -</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> Statement of Value Added</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;">.</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> In our opinion, the statements of value added have been fairly prepared, in all material respects, in accordance with the criteria determined by the aforementioned Technical Pronouncement</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> and</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-US" style="color: windowtext;"> are consistent with the overall individual and consolidated financial statements.</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="EN-GB"></font></font></font></p>
<p style="margin: 0px; text-indent: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">Other </font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">information</font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US"> accompanying the individual and consolidated financial statements and the </font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">auditor's</font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US"> report</font></b></font></font></p>
<p style="margin: 0cm 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Management is responsible for the other information </font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">comprising</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> the management report.</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"><font style="line-height: inherit;">&nbsp; </font></font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"></font></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Our opinion on the individual and consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.</font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">In connection with our audit of the individual and consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the individual and consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"><font style="line-height: inherit;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font></font></font></p>
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<p style="margin: 0pt; text-align: justify;">&nbsp;</p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><img src="img9b5077b1eeba4ef38dbf.jpg" alt="Graphics"></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><br></font></font></p>
<p style="margin: 0px; text-indent: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">Responsibilities of Management and Those Charged with Governance for the </font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US">Individual</font></b></font><font style="mso-bookmark: _Hlk32914538;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US"> and Consolidated Financial Statements</font></b></font></font></p>
<p style="margin: 0cm 6.05pt 0.0001pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Management is responsible for the preparation and fair presentation of the individual and consolidated financial statements in accordance with Accounting Practices Adopted in Brazil and with International Financial Reporting Standards (IFRS</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">),</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> issued by the International Accounting Standards Board (IASB) and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</font></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">In preparing the individual and consolidated financial statements, management is responsible for assessing the Company&#8217;s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company </font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">and subsidiaries </font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">or to cease operations, or has no realistic alternative but to do so.</font></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Those charged with governance are responsible for overseeing the Company&#8217;s and subsidiaries financial reporting process.</font></font></p>
<p style="margin: 6.5pt 6.05pt 0.0001pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="line-height: inherit;">Auditors&#8217; Responsibilities for the Audit of the Individual and Consolidated Financial Statements</font></b></font></p>
<p style="margin: 0cm 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Our objectives are to obtain reasonable assurance about whether the individual and consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors&#8217; report that includes our opinion. </font></font></p>
<p style="margin: 0cm 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">Reasonable assurance is a high level of assurance</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> but</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> is not a guarantee that an audit conducted in accordance with Brazilian and </font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">international</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> standards on auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.</font></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: 1.1;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">As part of an audit in accordance with Brazilian and&nbsp;international&nbsp;standards on auditing, we exercise professional judgment and maintain professional skepticism throughout the audit.&nbsp;We&nbsp;also:</font></p>
<ul type="disc" style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 6pt 6.05pt 12pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Identify and assess the risks of material misstatement of the individual and consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Obtain an understanding of internal control relevant to the audit&nbsp;in order to&nbsp;design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s&nbsp;and its subsidiaries&nbsp;internal control.</font></li>
</ul>
<ul type="disc" style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 6.5pt 6.05pt 6.5pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 12pt 6.05pt 12pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Conclude on the appropriateness of management&#8217;s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company&#8217;s&nbsp;and its&nbsp;subsidiaries&nbsp;ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors&#8217; report to the related disclosures in the individual and consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors&#8217; report. However, future events or conditions may cause the Company&nbsp;and subsidiaries&nbsp;to cease to continue as a going concern.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 12pt 6.05pt 12pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Evaluate the overall presentation,&nbsp;structure&nbsp;and content of the financial statements, including the disclosures, and whether the&nbsp;individual and consolidated&nbsp;financial statements represent the underlying transactions and events in a manner that achieves fair presentation.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 12pt 6.05pt 12pt 9.6pt; padding-left: 13pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements.&nbsp;We are responsible for the direction,&nbsp;supervision&nbsp;and performance of the group audit.&nbsp; We remain solely responsible for our audit opinion.</font></li>
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<p style="margin: 0pt; text-align: justify;">&nbsp;</p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font lang="PT-BR" style="font-size: 10pt; color: #000000;"><img src="img9b5077b1eeba4ef38dbf.jpg" alt="Graphics"></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> and</font></font><font style="line-height: inherit;"><font lang="EN-US" style="line-height: inherit;"> communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.</font></font></font></p>
<p style="margin: 6.5pt 6.05pt 6.5pt 0cm; text-indent: 0cm; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><font lang="EN-US" style="line-height: inherit;">From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the individual and consolidated financial statements of the current period and are therefore the key audit matter. We describe these matters in our auditors&#8217; report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</font></font></p>
<p style="text-indent: -0.5pt; margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="EN-US">&nbsp;</font></font></p>
<p style="text-indent: -0.5pt; margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="mso-bookmark: _Hlk32914538;"><font lang="PT-BR">S&#227;o Paulo, February 23</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="PT-BR">, 2022</font></font><font style="mso-bookmark: _Hlk32914538;"><font lang="PT-BR"></font></font></font></p>
<p style="text-indent: -0.5pt; margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font lang="PT-BR">&nbsp;</font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">KPMG Auditores Independentes Ltda.</font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">CRC 2SP014428/O-6</font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><font lang="EN-US">Original report in Portuguese signed by</font></i></font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font lang="PT-BR" style="font-size: 10pt; font-family: 'times new roman', times;">M&#225;rcio Serpejante Peppe</font></p>
<p style="margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Calibri, 'sans-serif';"><font lang="PT-BR" style="font-size: 10.0pt; mso-bidi-font-size: 11.0pt; font-family: 'Arial','sans-serif'; mso-ansi-language: PT-BR;"><font style="font-family: 'times new roman', times;">Accountant CRC 1SP233011/O-8</font></font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultrapar Participa&#231;&#245;es S.A. and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Subsidiaries</font></font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B4_4JQPU3TR3K00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Financial Position</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">s of </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December 31, </font><font style="font-family: 'Times New Roman'; font-weight: bold;">2021 and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">2020</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Assets</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Current assets</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 10%; padding: 0px 4px 0px 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 0.981194%; padding: 0px 4px 0px 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 10%; padding: 0px 4px 0px 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 1%; padding: 0px 4px 0px 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 10%; padding: 0px 4px 0px 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,533</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">948,649</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,280,074</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,661,494</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments and hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142,065</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88,100</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,804,122</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,033,258</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,375,246</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,318,927</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">582,562</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">549,129</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inventories</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,918,772</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,846,196</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">862</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">154</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,061,227</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,044,850</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,499</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,913</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">291,833</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">366,080</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends receivable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">146,490</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">150,301</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">147</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,152</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,513</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">58,300</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,205</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,955</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Prepaid expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,548</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,684</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">98,024</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">132,122</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">555,052</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">478,908</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">480,510</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,297,101</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,023,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,489,071</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets from subsidiaries held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.c.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,681,730</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,000,917</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,162,240</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,297,101</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,024,181</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,489,071</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments and hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">379,277</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">977,408</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">63,749</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,195</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">415,472</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">419,255</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">406,787</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">753,459</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">490</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,824</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,402</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,993</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">571,755</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">974,711</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,046,798</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,474,808</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,483</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,446</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">155,358</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">261,205</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Escrow deposits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">871,261</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">949,796</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Indemnification asset &#8211; business combination</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">120,991</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">204,439</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,748</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,238</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Prepaid expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,748</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,888</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">71,368</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">70,507</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,524,174</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,227,423</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">504,438</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">861,788</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,250,441</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,654,809</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,266,396</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,530,177</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 13.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">71,389</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,100</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,176</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,588</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,793</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,266,396</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,530,177</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">78,593</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">167,481</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,304</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,062</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,651,295</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,150,286</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Property, plant, and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,006</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,328</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,534,591</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,005,860</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Intangible assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">252,585</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">254,242</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,471,256</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,782,655</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,074,729</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,695,597</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,986,176</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,761,091</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 30pt; text-indent: 1.15pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.97547%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,236,969</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,992,698</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 0.981194%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,010,357</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; width: 10%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,250,162</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>5</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Financial Position</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">s of</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December 31, </font><font style="font-family: 'Times New Roman'; font-weight: bold;">2021 and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">2020</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 2.4pt; font-family: 'times new roman'; font-size: 10pt; height: 813px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans, financing and hedge derivative financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,038,499</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">618,327</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,306,036</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.f</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,333</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,996</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,247,724</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">949,908</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,882</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,870</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,670,895</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,745,019</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables &#8211; reverse factoring</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,119,059</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,295,633</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Salaries and related charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55,477</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,400</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">330,103</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">468,630</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Taxes payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,096</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">812</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">229,176</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">286,014</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.h</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">193,564</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">439,094</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">202,860</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">442,133</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">196,348</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">169,317</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">237</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,082</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,077</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for asset retirement obligation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,632</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,267</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,942</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,660</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,129</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,688</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">188,832</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">260,189</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,612</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,157</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">144,204</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">224,676</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,625</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,282</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">331,330</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,566,780</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,098,809</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,240,841</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities from subsidiaries held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.c.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,541,421</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">331,330</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,566,780</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,640,230</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,240,841</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans, financing and hedge derivative financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,672,547</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,526,064</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.f</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,724,866</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,724,117</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,839,045</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,594,208</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,674</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,272</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,534</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,711</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">282</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,732</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,000</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,527</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">194,637</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">257,647</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for asset retirement obligation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">52,079</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,168</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a; 23.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">250</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">812,243</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">854,385</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,893</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,246</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,159,479</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,573,099</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Subscription warrants &#8211; indemnification</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for liabilities of subsidiaries and joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 13.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,199</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,794</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,540</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,497</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">115,745</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,507</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,838,718</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,892,172</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,900,887</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,099,056</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share capital</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.a; 26.f</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,171,752</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,171,752</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,171,752</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,171,752</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,043</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,404</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,043</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,404</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.d</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">596,481</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">594,049</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">596,481</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">594,049</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Treasury shares</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(488,425)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489,068)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(488,425)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489,068)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Revaluation reserve on subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.e</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,154</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,337</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,154</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,337</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Profit reserves</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.f</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,866,409</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,408,275</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,866,409</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,408,275</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Valuation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(422,138)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(464,990)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(422,138)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(464,990)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cumulative translation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.g.2</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">304,645</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">231,596</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">304,645</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">231,596</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additional dividends to the minimum mandatory dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.h</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55,391</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55,391</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity attributable to:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 30pt; text-indent: 1.15pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shareholders of the Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,066,921</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,533,746</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,066,921</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,533,746</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 30pt; text-indent: 1.15pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-controlling interests in subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">402,319</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">376,519</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,066,921</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,533,746</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,469,240</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,910,265</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt 0pt 0pt 30pt; text-indent: 1.15pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total liabilities and equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,236,969</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,992,698</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,010,357</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,250,162</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>6</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultrapar Participa&#231;&#245;es S.A. and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Subsidiaries</font></font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B33_B8AW6OI4S000000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Profit or Loss</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For </font><font style="font-family: 'Times New Roman'; font-weight: bold;">the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> ended</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic;">(In thousands of Brazilian Reais, except earnings per </font><font style="font-family: 'Times New Roman'; font-style: italic;">thousand </font><font style="font-family: 'Times New Roman'; font-style: italic;">share)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 574px; width: 100%;" width="100%">

<tr style="height: 17px;">
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 21%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 21%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 9.97547%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.06296%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">109,732,842</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">74,058,056</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(104,827,966)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(70,056,447)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,904,876</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,001,609</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (expenses)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling and marketing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,934,789)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,595,871)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversion (loss) allowance for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,123</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,281)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,927)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,466,551)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(993,986)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Gain (loss) on disposal of property, plant and equipment and intangibles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">124</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">184,189</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">85,455</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,900</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,186</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">445,836</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">321,385</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(207)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(431)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(349,670)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(257,351)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss) before finance income (expenses) and share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,110)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,755</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,787,014</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,545,960</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,972</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">669,933</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,634)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,031)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income before finance income (expenses) and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">805,862</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">671,688</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,769,380</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,501,929</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,314</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,022</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">460,154</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">357,666</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(99,692)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(120,907)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,222,886)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(908,014)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial result, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(31,378)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(77,885)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(762,732)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(550,348)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit before income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">774,484</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">593,803</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,006,648</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">951,581</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.b; 10.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,022</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,299)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(430,280)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(538,761)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,693</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,246</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242,246</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">234,244</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,715</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,947</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(188,034)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(304,517)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 10%; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">785,199</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 10%; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">612,750</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 10%; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">818,614</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 10%; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">647,064</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Profit (loss) from discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.c.2</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">883,878</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">927,697</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Income attributable to:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp; Shareholders of the Ultrapar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp; Non-controlling interests in subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,415</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,314</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Earnings per share from continuing operations (based on weighted average number of shares outstanding) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp; Basic</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7200</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5625</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7200</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5625</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Diluted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7158</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5592</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7158</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5592</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Earnings per share from discontinued operations (based on weighted average number of shares outstanding) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Basic</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0598</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2576</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0598</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2576</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Diluted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0595</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2561</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1.06296%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0595</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2561</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">inancial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>7</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultrapar Participa&#231;&#245;es S.A. and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Subsidiaries</font></font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B666_7D38SO8FGW00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Comprehensive Income</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nded </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 235px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">883,878</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">927,697</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Items that are subsequently reclassified to profit or loss:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustments of financial instruments, net of taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(147)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">126</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(147)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">126</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustments of financial instruments of subsidiaries, net of taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,352</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(313,397)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,322</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(313,397)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustments of financial instruments of joint ventures, net<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0.533333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>of taxes</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">190</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">190</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cumulative translation adjustments and hedge of net investments in foreign operations, net<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0.533333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>of taxes</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 26.g.2</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,049</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,169</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,049</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,169</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Items that are not subsequently reclassified to profit or loss:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Actuarial gain of post-employment benefits, net<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0.533333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>of taxes</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">552</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">156</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">552</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">156</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Actuarial gain (losses) of post-employment benefits of subsidiaries, net<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0.533333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>of taxes</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,273</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,623)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,335</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,918)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Actuarial gain of post-employment benefits of joint ventures, net<font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0.533333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>of taxes</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,723</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">875</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,723</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">875</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total comprehensive income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">966,364</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">703,879</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,010,811</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">726,898</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total comprehensive income for the year attributable to shareholders of the Ultrapar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">966,364</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">703,879</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">966,364</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">703,879</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total comprehensive income for the year attributable to non-controlling interest in subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,447</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,019</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>8</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries&nbsp;</font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B212121_VA60FQG6CG00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Changes in Equity</font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nded </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20&nbsp; &nbsp;</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais, except dividends per share)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<table cellspacing="0" cellpadding="0" style="height: 727px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 92.6512%;" width="100%">

<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.65476%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.82143%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Profit reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 4.6627%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.16144%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.25794%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 12.7976%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Equity attributable to:</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.05159%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 4.26587%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Share capital</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 5.25794%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 4.26587%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Capital reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 4.6627%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Treasury shares</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.65476%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Revaluation reserve on subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 4.16667%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Legal reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.65476%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Investments statutory reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Valuation adjustments</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Cumulative translation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 4.6627%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Retained earnings</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.16144%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.25794%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Additional dividends to </font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">the minimum mandatory dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.15079%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Shareholders of the Company</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.55556%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Non-controlling interests in subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.05159%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Consolidated equity</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 5,171,752</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 22,404</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 594,049</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">(489,068)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 4,337</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 750,010</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 3,658,265</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">(464,990)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 231,596</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 55,391</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 9,533,746</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 376,519</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 9,910,265</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Net income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 850,463</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 850,463</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 33,415</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 883,878</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Other comprehensive income:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 51px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Fair value adjustments of available for financial instruments, net of income taxes:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 7,304</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 7,304</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(30)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 7,274</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Actuarial gain of post-employment benefits, net of income taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 35,548</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 35,548</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 11,062</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 46,610</font></p>
</td>
</tr>
<tr style="height: 69px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Currency translation of foreign subsidiaries and the effect of net investments hedge, net of income taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">13.a; 26.g.2</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 73,049</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 73,049</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 73,049</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Total comprehensive income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 42,852</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 73,049</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 850,463</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 966,364</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 44,447</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">1,010,811</font></p>
</td>
</tr>
<tr style="height: 69px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Issuance of shares related to the subscription warrants - indemnification - Extrafarma acquisition</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.d</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 1,819</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 1,819</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 1,819</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.b</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">8,008</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">613</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">643</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 9,264</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 9,264</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Equity instrument granted of subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">13.a; 26.b</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 3,631</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 3,631</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 3,631</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Realization of revaluation reserve of subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.e</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(183)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 183</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Prescribed dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 10,487</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 10,487</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 1,329</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 11,816</font></p>
</td>
</tr>
<tr style="height: 51px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Gains due to the payments fixed dividends to preferred shares of subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 971</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 971</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(971)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Shareholder transaction &#8211; changes of investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 11,641</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(11,641)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Dividends attributable to non-controlling interests</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(19,005)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(19,005)</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Approval of additional dividends by the Shareholders&#8217; Meeting</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(55,391)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(55,391)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(55,391)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Allocation of net income:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Legal reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.f; 26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;"> 42,523</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(42,523)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.43254%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Investments statutory reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.f; 26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">403,970</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(403,970)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.43254%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Proposed dividends (R$ 0.17 per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(185,896)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(185,896)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(185,896)</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.43254%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">Intermediary dividends (R$ 0.20 per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(218,074)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(218,074)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom-width: 1px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">(218,074)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 8.43254%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 3.86905%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 5,171,752</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 34,043</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 4.26587%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 596,481</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">(488,425)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 4,154</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 4.16667%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 792,533</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.65476%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 4,073,876</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">(422,138)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.75397%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 304,645</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 4.6627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.16144%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.25794%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 6.15079%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 10,066,921</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 5.55556%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 402,319</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.09127%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 6.05159%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold; color: #000000;"> 10,469,240</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>9</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statements of Changes in Equity</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For </font><font style="font-family: 'Times New Roman'; font-weight: bold;">the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nded </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20&nbsp;</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais, except dividends per share)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 719px; border-collapse: collapse; margin-top: 0px; margin-bottom: 0px; font-family: 'times new roman'; font-size: 10pt; width: 93.5881%; margin-left: 0.1px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.92157%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.88235%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 9.70072%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Profit reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 5.46956%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 13.3127%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Equity attributable to:</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.29515%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="color: #0563c1; font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 4.02477%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Share capital</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 5.46956%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.92157%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Capital reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Treasury shares</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.88235%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Revaluation reserve on subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.81837%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Legal reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.88235%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Investments statutory reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Valuation adjustments</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Cumulative translation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Retained earnings</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.46956%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Additional dividends to the minimum mandatory dividends</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.39835%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Shareholders of the Company</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 5.77915%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Non-controlling interests in subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.29515%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Consolidated equity</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 5,171,752</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 11,970</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 542,400</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">(485,383)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 4,522</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 705,341</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 3,290,073</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">(146,317)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 102,427</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 261,470</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 9,458,255</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 376,920</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 9,835,175</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Net income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 893,383</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 893,383</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 34,314</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 927,697</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Other comprehensive income:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 51px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Fair value adjustments of available for financial instruments, net of income taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(313,081)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(313,081)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 51px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(313,081)</font></p>
</td>
</tr>
<tr style="height: 51px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Actuarial losses of post-employment benefits, net of income taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">13.a; 26.g.1</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(5,592)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(5,592)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(11,295)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 51px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(16,887)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Currency translation of foreign subsidiaries, including the effect of net investments hedge</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">13.a; 26.g.2</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 129,169</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 129,169</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 129,169</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Total comprehensive income for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(318,673)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 129,169</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 893,383</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 703,879</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 23,019</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 726,898</font></p>
</td>
</tr>
<tr style="height: 69px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Issuance of shares related to the subscription warrants - indemnification - Extrafarma acquisition</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.d</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 54,763</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 54,763</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 54,763</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Stock plan</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">9.c</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(3,114)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(3,685)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(6,799)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(6,799)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.b</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 4,526</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 4,526</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 4,526</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Equity instrument granted of subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">13.a; 26.b</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 5,908</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 5,908</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 5,908</font></p>
</td>
</tr>
<tr style="height: 69px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Income and social contribution taxes on realization of revaluation reserve of subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 69px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.e</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(185)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 185</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 69px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Transfer to statutory reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(774)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 774</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Loss due to the payments fixed dividends to preferred shares</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(1,001)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(1,001)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 1,001</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Shareholder transaction &#8211; changes of investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 42</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 42</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(42)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Dividends attributable to non-controlling interests</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(24,379)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(24,379)</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Approval of additional dividends by the Shareholders&#8217; Meeting</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(261,470)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(261,470)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(261,470)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Allocation of net income:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.01754%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Legal reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.f; 26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 44,669</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(44,669)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7.01754%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Investments statutory reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.f; 26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 368,966</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(368,966)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 7.01754%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">Proposed dividends (R$ 0.44 per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">26.h</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom: 1px solid #000000; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(479,748)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom: 1px solid #000000; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;"> 55,391</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom: 1px solid #000000; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(424,357)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom: 1px solid #000000; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom-width: 1px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 34px; border-bottom: 1px solid #000000; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">(424,357)</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 7.01754%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 3.30237%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 4.02477%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 5,171,752</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 22,404</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 3.92157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 594,049</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">(489,068)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 4,337</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 3.81837%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 750,010</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.88235%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 3,658,265</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">(464,990)</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.98555%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 231,596</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 4.64396%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">-&nbsp; </font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.46956%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 55,391</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 6.39835%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 9,533,746</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 5.77915%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 376,519</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 1.13519%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; border-bottom: 2.8pt double #000000; width: 6.29515%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;"> 9,910,265</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>10</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultrapar Participa&#231;&#245;es S.A. and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Subsidiaries</font></font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B565656_PLIK6EOIF400000000000000000000" class="customBookmark"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Statements of </font><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">ash </font><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">lows </font><font style="font-family: 'Times New Roman';">&#8211;</font><font style="font-family: 'Times New Roman';"> Indirect </font><font style="font-family: 'Times New Roman';">M</font><font style="font-family: 'Times New Roman';">ethod</font></font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nded </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 922px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash flows from operating activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px 4px 0px 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">785,199</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">612,750</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">818,615</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">647,064</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Adjustments to reconcile net income to cash provided by operating activities from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of loss (profit) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(828,972)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(669,933)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,634</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,031</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">282,521</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">289,436</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,093</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,690</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">260,716</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242,670</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Depreciation and amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15; 16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,936</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,775</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">653,118</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">595,531</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">PIS and COFINS credits on depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15; 16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,081</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,062</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest and foreign exchange rate variations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,985</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99,209</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,133,882</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">533,926</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,693)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,246)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(242,246)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(234,244)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,022)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,299</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">430,280</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">538,761</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loss on disposal of property, plant, and equipment and intangibles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(124)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(184,189)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(85,455)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversion (loss) allowance for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,123)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,281</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses in inventories</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(826)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,338</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(98)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,195)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,393)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,867)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity instrument granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,526</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,364</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,793</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision of decarbonization &#8211; CBIO</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">161,281</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">124,287</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(30)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(119)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">93,328</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,582</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other provisions and adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,759)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">895</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,331</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,912)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,221)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,651</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,437,374</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,731,284</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Increase) decrease in current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade receivables and reseller financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(968,787)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">481,984</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inventories</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,626,670)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,136</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,538)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,648</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(672,607)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(115,316)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends received from subsidiaries and joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">428,459</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">212,842</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,005</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,836</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(47,215)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(51,979)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,360)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,922)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Prepaid expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,864)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,612)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(61,573)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(70,503)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Increase (decrease) in current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,011</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,697</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,425,821</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">798,180</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Salaries and related charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,077</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,442</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">63,066</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,644</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Taxes payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">285</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">423</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,733</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,925</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">237</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,814)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,273</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,543)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,153</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(36,357)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,663)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,614)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,814)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Increase) decrease in non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade receivables and reseller financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,008</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(73,035)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,964</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(153,526)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(667,894)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Escrow deposits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,324)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(26,492)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,903</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(27,738)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Prepaid expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,139</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,633)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,962</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,683</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Increase (decrease) in non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,130</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,958</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,907</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,700</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(104)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,043</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,240</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,193)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(34,721)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of CBIO</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(176,837)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(125,345)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(420,261)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(356,045)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of contingencies</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,351)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(39,256)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes paid</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(230,036)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(333,784)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by operating activities from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414,948</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">267,845</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,603,441</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,264,013</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net cash provided by operating activities from discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">269,299</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,907</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">982,519</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">874,106</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by operating activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">684,247</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">354,752</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,585,960</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,138,119</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>11</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Participa&#231;&#245;es S.A. and Subsidiaries</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Statements of Cash Flows </font><font style="font-family: 'Times New Roman';">&#8211;</font><font style="font-family: 'Times New Roman';"> Indirect Method</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> ended </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 674px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash flows from investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments, net of redemptions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,285)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,729</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,863,053</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(869,748)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of property, plant, and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,760)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,539)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,028,419)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(750,618)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of intangible assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(197)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,111)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(237,488)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(154,534)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Revenue on disposal of investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">159,657</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase in subsidiary</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(115,456)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(97,956)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase in joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.b</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(25,700)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28,840)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital decrease in associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.c</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,500</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Initial direct costs of right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,905)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">346,672</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,334</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Proceeds from disposal of property, plant, and equipment and intangibles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">162,837</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">154,725</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) investing activities from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">194,974</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(112,877)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">882,869</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,649,015)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) investing activities from discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(158,733)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(487,390)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">194,974</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(112,877)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">724,136</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,136,405)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash flows from financing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans and debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Proceeds</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">994,996</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,383,611</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,387,161</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Repayments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,000,000)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,426,222)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,815,130)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest paid</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(102,871)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(68,788)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(733,791)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(701,458)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of lease</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Principal</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,079)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,906)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(304,975)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(250,202)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 20pt; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest paid</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(383)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(350)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,267)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,705)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends paid</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.h</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(694,406)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(261,422)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(705,753)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(284,767)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(598)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,664</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(177)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,548)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) in financing activities from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,806,337)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">664,194</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,802,574)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">327,351</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) in financing activities from discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(552,967)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(919,684)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) in financing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,806,337)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">664,194</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,355,541)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(592,333)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Effect of exchange rate changes on cash and cash equivalents in foreign currency - continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,547)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,912</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Effect of exchange rate changes on cash and cash equivalents in foreign currency - discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,553</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,822</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Increase (decrease) in cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(927,116)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">906,069</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,561</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">546,115</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash and cash equivalents at the beginning of the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">948,649</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,580</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,661,494</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,115,379</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash and cash equivalents at the end of the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,533</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">948,649</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,668,055</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,661,494</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Cash and cash equivalents at the end of the year - continuing operations</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">-</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">-</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">2,280,074</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">-</td>
</tr>
<tr style="height: 23px;">
<td style="height: 23px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Cash and cash equivalents at the end of the year - discontinued operations</font><br></td>
<td style="height: 23px;"><br></td>
<td style="height: 23px; text-align: right;">
<p><br></p>
<p>-</p>
</td>
<td style="height: 23px;"><br></td>
<td style="height: 23px; text-align: right;">
<p><br></p>
<p>-</p>
</td>
<td style="height: 23px;"><br></td>
<td style="height: 23px; text-align: right;">
<p><br></p>
<p>387,981</p>
</td>
<td style="height: 23px;"><br></td>
<td style="height: 23px; text-align: right;">
<p><br></p>
<p>-</p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Transactions without cash effect:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Addition on right-of-use assets and leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,500</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,245</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">227,977</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">420,070</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Addition on contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">269,725</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">193,040</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversion fund &#8211; private pension</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11; 21.a</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,656</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,843</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Issuance of shares related to the subscription warrants &#8211; indemnification &#8211; Extrafarma acquisition</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26.d</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,819</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">54,763</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,819</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">54,763</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<div style="width: 8.5in; margin: 0 auto;"><br></div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">

<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>12</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Paticipa&#231;&#245;es S.A. and Subsidiaries</font></p>
<div style="margin: 2pt 0pt 0pt; text-align: justify;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="B545454_5NIOFGL6DS00000000000000000000" class="customBookmark"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Statements of </font><font style="font-family: 'Times New Roman';">V</font><font style="font-family: 'Times New Roman';">alue </font><font style="font-family: 'Times New Roman';">A</font><font style="font-family: 'Times New Roman';">dded</font></font></a></div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">For</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">years</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nded </font><font style="font-family: 'Times New Roman'; font-weight: bold;">December</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> 3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;">, 202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and 20</font><font style="font-family: 'Times New Roman'; font-weight: bold;">20</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian Reais, except percentages)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 587px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 29.6569%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 30.3922%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 31.6176%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.7402%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 9.55882%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.47059%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 3.06373%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.47059%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 9.68137%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.34804%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 3.06373%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.47059%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 9.92647%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.47059%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 3.06373%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.47059%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 9.92647%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 1.34804%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff; padding: 0px 4px 0px 0px; width: 3.18627%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Gross revenue from sales and services, except rents and royalties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,582,170</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">79,360,896</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Rebates, discounts, and returns</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,351,464)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,812,144)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversion loss allowance for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,123</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,281)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(282,521)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(289,436)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for loss on disposal of property, plant, and equipment and intangibles and other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29; 30</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,817</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,755</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,355</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">149,489</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,817</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,755</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">113,231,663</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">77,393,524</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Materials purchased from third parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Raw materials used</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(709,063)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(429,790)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of goods, products, and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(104,452,894)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(69,384,748)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Third-party materials, energy, services, and others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">172,986</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">171,058</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,303,642)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,915,894)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses of assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,456</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,611</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">172,986</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">171,059</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(107,461,143)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(71,716,821)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross value added</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">174,803</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">172,814</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,770,520</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,676,703</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Deductions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Depreciation and amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14.a; 15; 16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,029)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,465)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(913,834)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(838,201)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">PIS and COFINS credits on depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15; 16</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,081)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,062)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,029)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,465)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(920,915)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(844,263)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net value added by the Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">156,774</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">165,349</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,849,605</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,832,440</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Value added received in transfer</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures, and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,972</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">669,933</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,634)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,031)</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Rents and royalties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,329</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,459</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,314</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,022</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">460,154</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">357,666</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">897,286</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">712,955</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">547,849</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">419,094</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total value added available from continuing operation for distribution</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,054,060</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">878,304</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,397,454</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,251,534</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total value added available from discontinued operation for distribution</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,837,359</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,229,639</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total value added available</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,119,324</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,158,937</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,234,813</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,481,173</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Distribution of value added</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Labor and benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">152,159</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">134,453</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,363,388</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,202,755</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Taxes, fees, and contributions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,571</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,374</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,318,422</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,679,943</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial expenses and rents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">101,131</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,727</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">897,030</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">721,772</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">403,970</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">479,748</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">425,407</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">504,127</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Retained earnings</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">381,229</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,002</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">393,207</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142,937</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Value added distributed from continuing operation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,054,060</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">94</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">878,304</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">76</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,397,454</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.06373%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,251,534</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 3.18627%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">81</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Value added distributed from discontinued operation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 3.06373%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 3.06373%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,837,359</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 3.06373%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,229,639</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 3.18627%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 31.6176%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Value added distributed</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 6.7402%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,119,324</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 3.06373%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,158,937</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 3.06373%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,234,813</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 3.06373%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,481,173</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 1.34804%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: bottom; height: 18px; width: 3.18627%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accompanying notes are an integral part of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>13</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="BMMMMM_NWSL5XWXJ400000000000000000000" class="customBookmark"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-family: 'Times New Roman';">Statements</font></a></div>
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<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1. Operations</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar Participa&#231;&#245;es S.A. (&#8220;Ultrapar&#8221; or &#8220;Company&#8221;) is a publicly-traded company headquartered at the Brigadeiro Luis Ant&#244;nio Avenue, 1343 in the city of S&#227;o Paulo &#8211; SP, Brazil, listed on B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o (&#8220;B3&#8221;), in the Novo Mercado listing segment under the ticker &#8220;UGPA3&#8221; and on the New York Stock Exchange (&#8220;NYSE&#8221;) in the form of level III American Depositary Receipts (&#8220;ADRs&#8221;) under the ticker &#8220;UGP&#8221;.</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company engages in the investment of its own capital in services, commercial, and industrial activities, through the subscription or acquisition of shares of other companies. Through its subsidiaries, it operates in the segments of liquefied petroleum gas &#8211; LPG distribution (&#8220;Ultragaz&#8221;), fuel distribution and related businesses (&#8220;</font><font style="font-family: 'Times New Roman';">Ipiranga</font><font style="font-family: 'Times New Roman';">&#8221;), storage services for liquid bulk (&#8220;Ultracargo&#8221;) and digital payments segment (&#8220;Abastece a&#237;&#8221;). The information about segments are disclosed in Note </font><font style="font-family: 'Times New Roman';">33</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The activities related to the production and </font><font style="font-family: 'Times New Roman';">marketing</font><font style="font-family: 'Times New Roman';"> of chemical products (&#8220;Oxiteno&#8221;) and </font><font style="font-family: 'Times New Roman';">retail distribution of pharmaceutical, hygiene, beauty, and skincare products (&#8220;Extrafarma&#8221;)</font><font style="font-family: 'Times New Roman';"> are presented as discontinued operations (see Note 3).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Clarifications on the impacts of COVID-19</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The World Health Organization (&#8220;WHO&#8221;) declared a coronavirus pandemic (COVID-19) on March 11, 2020. To contain a spread of the virus in Brazil, the Ministry of Health (&#8220;MH&#8221;) and the state and municipal governments announced several actions to reduce the agglomeration and movement of people, including the closing of commerce, parks and common areas. In this context, the Company created a Crisis Committee to keep up with it and monitor the main risks and adopt preventive and emergency measures to reduce the pandemic effects.</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Since the beginning of the coronavirus pandemic, the Company and its subsidiaries acted in numerous initiatives to ensure the safety and security of its employees and the stability and continuity of its operations and partners, the financial solidity of the Company. All the activities of the companies controlled by the Company are classified as essential in the context of the measures adopted to face the pandemic.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries quickly adopted the work at home (expressed by home office) for the administrative public, </font><font style="font-family: 'Times New Roman';">with</font><font style="font-family: 'Times New Roman';"> all the necessary support for the </font><font style="font-family: 'Times New Roman';">operational continuity</font><font style="font-family: 'Times New Roman';">. In addition to basic safety concerns with employees, companies implemented several initiatives aimed at welfare, such as virtual meetings, psychological support and concern for ergonomics, following </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman';"> principle of valuing people.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The emergency measures and speed in answer to the first effects of the crisis, as well as initiatives to support the supply chain, were effective to keep the activities of the subsidiaries in operation, ensuring the delivery of essential services to the population and preserving the health </font><font style="font-family: 'Times New Roman';">and security </font><font style="font-family: 'Times New Roman';">of employees</font><font style="font-family: 'Times New Roman';"> and partners</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">emains uncertain</font><font style="font-family: 'Times New Roman';"> to what extent the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">information, after</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December 31, 2021, may be affected by the commercial, operational and financial impacts of the pandemic, because it will depend on its duration and the impacts on economic activities, as well as government, business in response to the crisis. In this context, some financial risk assessments, projections and impairment tests, in connection with the preparation of th</font><font style="font-family: 'Times New Roman';">ese</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">financial statements</font><font style="font-family: 'Times New Roman';">, may be impacted by the pandemic, and may adversely affect the financial position of the Company and its subsidiaries.</font></font></p>
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<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="text-decoration: underline;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">O</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration-line: underline;">perational impacts</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The implemented measures of social isolation, restrictions on the movement of people and to the operation of certain businesses due to COVID-19 pandemic affected economic activity in Brazil in the last two years, however, with the advance of vaccination the negative impacts have been reduced in the last months. No significant effects were observed on the operations of the Company and its subsidiaries in the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> of 2021.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Main risks and associated measures</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Credit risk</font><font style="font-family: 'Times New Roman';"> - The actions taken by the Company and its subsidiaries </font><font style="font-family: 'Times New Roman';">throughout 2020 </font><font style="font-family: 'Times New Roman';">and 2021 softened the impacts of the pandemic on the financial condition and its customers and, consequently, mitigated its potential effects on default rates, that are at lower level than in 2020. The effects of </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended December 31, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> are disclosed in Notes 6 and 34.d.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Risk of realization of deferred tax assets</font><font style="font-family: 'Times New Roman';"> - the Company and its subsidiaries annually realize technical feasibility study of the constitution and realization of deferred tax credits, considering the current projections approved by the Board of Directors for each business segment and did not identify the need for write-offs for the year ended on December 31, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Risks in financial instruments</font><font style="font-family: 'Times New Roman';"> - the increase in volatility in financial markets may impact financial results according to sensitivity analyzes presented in Note </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Liquidity risk</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">&#8211;</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The Company and its subsidiaries presented </font><font style="font-family: 'Times New Roman';">variances</font><font style="font-family: 'Times New Roman';"> in their net debt position compatible with the results and the seasonality of their businesses.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The management of the Company and its subsidiaries </font><font style="font-family: 'Times New Roman';">continue </font><font style="font-family: 'Times New Roman';">maintain</font><font style="font-family: 'Times New Roman';">ing</font><font style="font-family: 'Times New Roman';"> discipline in control of costs and expenses to preserve cash in all business and selectivity in the allocation of capital</font><font style="font-family: 'Times New Roman';"> without compromising sustainable business growth</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Clarifications on the cyber incident</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">According communication sent to the market on January 12, 2021 and January 25, 2021, the Company suffered on January 11, 2021 a cyber incident of type ransomware in its information technology environment.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">As a precautionary measure, the Company interrupted its systems, affecting for a short period of time the operations of its subsidiaries. Immediately, all security and control measures were adopted to remedy the situation and as of January 14, 2021 the operational systems of the Company and its subsidiaries began to be gradually restored, with caution and security, according with the priority and relevance of each affected process. Since January 25, 2021, as communicated to the market on that date, all the critical information systems of the Company and its subsidiaries are in full operation.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company had a specific insurance policy for cyber incidents, which has already been </font><font style="font-family: 'Times New Roman';">triggered</font><font style="font-family: 'Times New Roman';">, being that such claim is under regulation</font><font style="font-family: 'Times New Roman';">.</font></font><a href="#TOC"></a></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">. Presentation </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">of </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">f</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">inancial </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">statements</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"> and </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">s</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ummary </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">of </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">s</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ignificant </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">a</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ccounting </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">p</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">olicies</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">arent</font><font style="font-family: 'Times New Roman';">&#8217;s separate</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> consolidated </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> (&#8220;financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">&#8221;)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">were prepared</font><font style="font-family: 'Times New Roman';"> in accordance with </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">International </font><font style="font-family: 'Times New Roman';">Financial Reporting</font><font style="font-family: 'Times New Roman';"> Standard</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> (&#8220;I</font><font style="font-family: 'Times New Roman';">FRS</font><font style="font-family: 'Times New Roman';">&#8221;) </font><font style="font-family: 'Times New Roman';">issued by the International Accounting Standards Board (&#8220;IASB&#8221;) and </font><font style="font-family: 'Times New Roman';">the accounting policies adopted in Brazil</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The accounting policies adopted in Brazil include those in the Brazilian corporate law and in the Pronouncements, Orientations and Interpretations </font><font style="font-family: 'Times New Roman';">issued by the Accounting Pronouncements Committee </font><font style="font-family: 'Times New Roman';">(&#8220;</font><font style="font-family: 'Times New Roman';">CPC</font><font style="font-family: 'Times New Roman';">&#8221;),</font><font style="font-family: 'Times New Roman';"> approved by the Brazilian </font><font style="font-family: 'Times New Roman';">Federal Accounting Council (&#8220;CFC&#8221;) and the Brazilian </font><font style="font-family: 'Times New Roman';">Securities and Exchange Commission (&#8220;CVM&#8221;)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">All relevant </font><font style="font-family: 'Times New Roman';">specific </font><font style="font-family: 'Times New Roman';">information </font><font style="font-family: 'Times New Roman';">of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">, and only this information, </font><font style="font-family: 'Times New Roman';">were</font><font style="font-family: 'Times New Roman';"> presented and correspond to </font><font style="font-family: 'Times New Roman';">that </font><font style="font-family: 'Times New Roman';">used by the Company&#8217;s and</font><font style="font-family: 'Times New Roman';"> its</font><font style="font-family: 'Times New Roman';"> subsidiaries&#8217; Management.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The presentation currency of the Company&#8217;s </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is the Brazilian Real</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> which is the Company&#8217;s functional currency.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries applied the accounting policies described below in a consistent manner for all </font><font style="font-family: 'Times New Roman';">years</font><font style="font-family: 'Times New Roman';"> presented in these </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company classified the transactions related to the purchase and sale agreements of Oxiteno and </font><font style="font-family: 'Times New Roman';">Extraf</font><font style="font-family: 'Times New Roman';">arma as current assets held for sale and discontinued operations</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he comparative information of the income and cash flow statements for the year ended December 31, 2020 were restated for the purposes of applying IFRS 5 (CPC 31) as shown in Note 3.c.3.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>16</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><br></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Recognition of revenue</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Revenue</font><font style="font-family: 'Times New Roman';"> of sales and services</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">rendered is measured at the value of the consideration that the Company's subsidiaries expect to be entitled to, net of sales returns, discounts</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> amortization of </font><font style="font-family: 'Times New Roman';">contractual assets with customers </font><font style="font-family: 'Times New Roman';">and other deduction</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">, if applicable, being recognized as the entity fulfills its performance obligation and freight mode of delivery.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">At Ipiranga, the r</font><font style="font-family: 'Times New Roman';">evenue from sales of fuels and lubricants is recognized when the products are delivered to gas stations and to large consumers. </font><font style="font-family: 'Times New Roman';">At Ultragaz, r</font><font style="font-family: 'Times New Roman';">evenue from sales </font><font style="font-family: 'Times New Roman';">of LPG </font><font style="font-family: 'Times New Roman';">is recognized when the products are delivered to customers at home, to independent dealers and to industrial and commercial customers. </font><font style="font-family: 'Times New Roman';">At Extrafarma, the r</font><font style="font-family: 'Times New Roman';">evenue from sales of</font><font style="font-family: 'Times New Roman';"> pharmaceutical</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> is recognized when the products are delivered to end </font><font style="font-family: 'Times New Roman';">user </font><font style="font-family: 'Times New Roman';">customers</font><font style="font-family: 'Times New Roman';"> in own drugstores and when the</font><font style="font-family: 'Times New Roman';"> products</font><font style="font-family: 'Times New Roman';"> are delivered to independent resellers. </font><font style="font-family: 'Times New Roman';">At Oxiteno, the r</font><font style="font-family: 'Times New Roman';">evenue </font><font style="font-family: 'Times New Roman';">from sales </font><font style="font-family: 'Times New Roman';">of chemical products is recognized when the products are delivered to </font><font style="font-family: 'Times New Roman';">industrial</font><font style="font-family: 'Times New Roman';"> customers. </font><font style="font-family: 'Times New Roman';">At Ultracargo, t</font><font style="font-family: 'Times New Roman';">he revenue provided </font><font style="font-family: 'Times New Roman';">from </font><font style="font-family: 'Times New Roman';">storage services is recognized </font><font style="font-family: 'Times New Roman';">as </font><font style="font-family: 'Times New Roman';">services</font><font style="font-family: 'Times New Roman';"> are performed</font><font style="font-family: 'Times New Roman';">. At Abastece a&#237;, the revenue provided from storage services of digital payments is recognized as services are performed. The </font><font style="font-family: 'Times New Roman';">breakdown</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of revenue</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> from</font><font style="font-family: 'Times New Roman';"> sales and services</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';"> shown in N</font><font style="font-family: 'Times New Roman';">ote</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">27</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">33</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Amortization of contract</font><font style="font-family: 'Times New Roman';">ual</font><font style="font-family: 'Times New Roman';"> assets</font><font style="font-family: 'Times New Roman';"> with customers</font><font style="font-family: 'Times New Roman';"> for the exclusive rights in Ipiranga</font><font style="font-family: 'Times New Roman';">&#8217;</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">reseller service stations </font><font style="font-family: 'Times New Roman';">and the bonus</font><font style="font-family: 'Times New Roman';">es paid in performance obligation sales</font><font style="font-family: 'Times New Roman';"> are recognized </font><font style="font-family: 'Times New Roman';">in the income statement </font><font style="font-family: 'Times New Roman';">as a </font><font style="font-family: 'Times New Roman';">d</font><font style="font-family: 'Times New Roman';">eduction of the revenue </font><font style="font-family: 'Times New Roman';">from sale </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';">ccord</font><font style="font-family: 'Times New Roman';">ing to </font><font style="font-family: 'Times New Roman';">the conditions established in the </font><font style="font-family: 'Times New Roman';">agreements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">whic</font><font style="font-family: 'Times New Roman';">h is </font><font style="font-family: 'Times New Roman';">reviewed as </font><font style="font-family: 'Times New Roman';">per the </font><font style="font-family: 'Times New Roman';">changes </font><font style="font-family: 'Times New Roman';">occurred </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman';">the agreements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(see Notes 2.f and </font><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The am/pm franchising upfront fee is recognized in profit or loss as the entity fulfills each performance obligation throughout the terms of the agreements with the franchisees. For more information, see Note </font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">.a.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Deferred revenue from loyalty program is recognized in the income statement when the points are redeemed, on which occasion the costs incurred are also recognized in profit or loss. Deferred revenue of unredeemed points is also recognized in profit or loss when points expire. For more information, see Note </font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">.b.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Costs of products </font><font style="font-family: 'Times New Roman';">sold</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and services provided include goods (mainly fuels</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">lubricants</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> LPG</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and pharmaceutical</font><font style="font-family: 'Times New Roman';"> products</font><font style="font-family: 'Times New Roman';">), raw materials (chemicals and petrochemicals) and production, distribution, storage</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">fulfillment</font><font style="font-family: 'Times New Roman';"> costs.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Exchange variations and the results of derivative financ</font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';"> instruments are presented net in the statement of </font><font style="font-family: 'Times New Roman';">profit and loss</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">on</font><font style="font-family: 'Times New Roman';"> financial expenses.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. Cash and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ash </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">quivalents</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Include</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> cash, banks deposits</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and short-term<font style="font-size: 10pt; font-family: 'Times New Roman', serif;">&nbsp;up to 90 days of maturity</font></font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> highly</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">liquid investments that are readily convertible into a known amount of cash and are subject to an insignificant risk of change in value. </font><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">or </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">information</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">on cash and cash equivalents of the Company and its subsidiaries</font><font style="font-family: 'Times New Roman';">, see Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>17</font></font></td>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">c</font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. Financial assets</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he Company and its subsidiaries</font><font style="font-family: 'Times New Roman';"> evaluated the classification and measurement of financial assets</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">based on its business</font><font style="font-family: 'Times New Roman';"> model</font><font style="font-family: 'Times New Roman';"> of financial assets</font><font style="font-family: 'Times New Roman';"> as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Amortized cost: financial assets held </font><font style="font-family: 'Times New Roman';">in order to collect</font><font style="font-family: 'Times New Roman';"> contractual </font><font style="font-family: 'Times New Roman';">cash </font><font style="font-family: 'Times New Roman';">flows, </font><font style="font-family: 'Times New Roman';">solely</font><font style="font-family: 'Times New Roman';"> principal and interest. The interest earned and the foreign currency exchange variation are recognized in profit or loss and balances are stated at acquisition cost plus the interest earned, using the effective interest rate method.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Measured at fair value through other comprehensive income: financial assets that are acquired or originated for the purpose of </font><font style="font-family: 'Times New Roman';">collecting</font><font style="font-family: 'Times New Roman';"> contractual cash flows or </font><font style="font-family: 'Times New Roman';">selling financial assets</font><font style="font-family: 'Times New Roman';">. The balances are stated at fair value, and the interest earned</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and the foreign currency exchange variation are recognized in profit or loss. Differences between fair value and </font><font style="font-family: 'Times New Roman';">initial amount of financial investments</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">plus the interest earned are recognized</font><font style="font-family: 'Times New Roman';"> in equity</font><font style="font-family: 'Times New Roman';"> in other comprehensive income in the &#8220;Valuation adjustments&#8221;. Accumulated gains and losses recognized in equity are reclassified to profit or loss at the time of their settlement. Substantially the financial investments in Bank Certificates</font><font style="font-family: 'Times New Roman';"> of Deposit</font><font style="font-family: 'Times New Roman';"> (</font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">CDB</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">) and repurchase agreements are classified as measured at fair value through other comprehensive income.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Measured at fair value through profit or loss: financial assets </font><font style="font-family: 'Times New Roman';">that were </font><font style="font-family: 'Times New Roman';">not classified as amortized cost or measured at fair value through other comprehensive income. </font><font style="font-family: 'Times New Roman';">The b</font><font style="font-family: 'Times New Roman';">alances are stated at fair value and both </font><font style="font-family: 'Times New Roman';">the interest</font><font style="font-family: 'Times New Roman';"> earned and </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">exchange variations and changes in fair value are r</font><font style="font-family: 'Times New Roman';">ecognized</font><font style="font-family: 'Times New Roman';"> in the income statement. Investment funds and derivative</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> are classified as measured at fair value through profit or loss.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Company and its subsidiaries use financial instruments for hedging purposes, applying the concepts described below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Hedge accounting &#8211; fair value hedge: financial instruments used to hedge exposure to changes in the fair value of an item, attributable to a particular risk, which can affect the entity&#8217;s </font><font style="font-family: 'Times New Roman';">statements of </font><font style="font-family: 'Times New Roman';">profit or loss. In the initial designation of the fair value hedge, the relationship between the hedging instrument and the hedged item is documented, including the objectives of risk management, the strategy in conducting the transaction, and the methods to be used to evaluate its effectiveness. Once the fair value hedge has been qualified as effective, the hedge item is also measured at fair value. Gains and losses from hedge instruments and hedge items are recognized </font><font style="font-family: 'Times New Roman';">the statements of </font><font style="font-family: 'Times New Roman';">profit or loss. The hedge accounting must be discontinued when the hedge becomes ineffective.</font></font></li>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Hedge accounting &#8211; cash flow hedge: financial instruments used to hedge the exposure to variability in cash flows that is attributable to a risk associated with an asset or liability or highly probable transaction </font><font style="font-family: 'Times New Roman';">or firm commitment </font><font style="font-family: 'Times New Roman';">that may affect the </font><font style="font-family: 'Times New Roman';">statements of profit or loss</font><font style="font-family: 'Times New Roman';">. The portion of the gain or loss on the hedging instrument that is determined to be effective relating to the effects of exchange rate effect, is recognized directly in equity in accumulated other comprehensive income as &#8220;Valuation adjustments&#8221; while the ineffective portion is recognized in </font><font style="font-family: 'Times New Roman';">the statements of </font><font style="font-family: 'Times New Roman';">profit or loss. Gains or losses on the hedging instrument relating to the effective portion of this hedge that had been recognized directly in accumulated other comprehensive income shall be recognized in profit or loss in the period in which the hedged item is recognized in profit or loss or as initial cost of non-financial assets, in the same line of the statement that the hedged item is recognized. The hedge accounting shall be discontinued when (i)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the hedging relationship</font><font style="font-family: 'Times New Roman';"> is canceled</font><font style="font-family: 'Times New Roman';">; (ii) the hedging instrument expires</font><font style="font-family: 'Times New Roman';"> or</font><font style="font-family: 'Times New Roman';"> (iii) the hedging instrument no longer qualifies for hedge accounting. When hedge accounting is discontinued, gains and losses recognized </font><font style="font-family: 'Times New Roman';">in equity</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in other comprehensive income are reclassified to </font><font style="font-family: 'Times New Roman';">the statements of </font><font style="font-family: 'Times New Roman';">profit or loss in the period which the hedged item is recognized in profit or loss. If the transaction hedged is canceled or is not expected to occur, the cumulative gains and losses </font><font style="font-family: 'Times New Roman';">in equity</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in other comprehensive income shall be recognized immediately in profit or loss.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Hedge accounting &#8211; hedge of net investments in foreign operation: financial instruments used to hedge exposure on net investments in foreign subsidiaries due to the fact that the local functional currency is different from the functional currency of the Company. The portion of the gain or loss on the hedging instrument that is determined to be effective, referring to the exchange rate effect, is recognized directly in equity in accumulated other comprehensive income as cumulative translation adjustments, while the ineffective portion and the operating costs are recognized </font><font style="font-family: 'Times New Roman';">the statements of </font><font style="font-family: 'Times New Roman';">profit or loss. The gain or loss on the hedging instrument that has been recognized directly in accumulated other comprehensive income shall be recognized in </font><font style="font-family: 'Times New Roman';">the statements of profit or loss</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">when the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">disposal of the foreign </font><font style="font-family: 'Times New Roman';">subsidiary occur</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">information on </font><font style="font-family: 'Times New Roman';">financial instruments, see Note </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>19</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p><br></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">d. Trade receivables and reseller financing</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Trade receivables are recognized at the amount invoiced</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman';"> the counterparty that the Company subsidiaries are entitled</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(see Notes </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.d.3)</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">consider</font><font style="font-family: 'Times New Roman';"> the expect</font><font style="font-family: 'Times New Roman';">ed</font><font style="font-family: 'Times New Roman';"> losses for the next 12 months </font><font style="font-family: 'Times New Roman';">take into account</font><font style="font-family: 'Times New Roman';"> the deterioration or improvement of the </font><font style="font-family: 'Times New Roman';">customers&#8217; </font><font style="font-family: 'Times New Roman';">credit quality</font><font style="font-family: 'Times New Roman';">, considering the customers&#8217; </font><font style="font-family: 'Times New Roman';">characteristics in each business segment</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> The amount</font><font style="font-family: 'Times New Roman';"> of the </font><font style="font-family: 'Times New Roman';">expected</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">credit losses</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is deemed by management to be sufficient to cover any loss on realization of trade receivables.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Reseller financing is provided at subsidized rate for renovation and upgrading of service stations, purchase of products and development of the automotive fuels and lubricants distribution market (see Notes </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">.b and </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.d.3). The terms of reseller financing range between 12 and 60 months, with an average term of 40 months. The minimum and maximum subsisted interest rates are 0% per month and 1% per month respectively. These financing are remeasured at a market rate for working capital loans and the remeasurement adjustment between the market rate and the rate subsidized is recognized as a reduction to the reseller&#8217;s revenue at the beginning of the contract. Throughout the contract, the interest appropriated by the market rate is recognized to the financial result.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">e. Inventories</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Inventories are stated at the lower of acquisition cost or net realizable value</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">. The cost value of inventory is measured using the weighted average cost and includes the costs of acquisition and processing directly </font><font style="font-family: 'Times New Roman';">and indirectly </font><font style="font-family: 'Times New Roman';">related to the units produced based on the normal capacity of production. Estimates of net realizable value are based on the average selling prices at the end of the reporting period, net of applicable direct selling expenses. Subsequent events related to the fluctuation of prices and costs are also considered, if relevant. If net realizable values are below inventory costs, a provision corresponding to this difference is recognized. Provisions are also made for obsolescence of products, materials</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> or supplies that (i) do not meet its subsidiaries&#8217; specifications, (ii) have exceeded their expiration date</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> or (iii) are considered slow-moving inventory. This classification is made by management with the support of its industrial </font><font style="font-family: 'Times New Roman';">and operation</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">team</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">f. Contractual assets with customers &#8211; exclusive rights</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Exclusive rights disbursements as provided in Ipiranga&#8217;s agreements with reseller service stations and major consumers are recognized as </font><font style="font-family: 'Times New Roman';">contractual assets</font><font style="font-family: 'Times New Roman';"> when paid and amortized according to the conditions established in the agreements (see Note </font><font style="font-family: 'Times New Roman';">2.a and </font><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">).</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>20</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">g. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ssets</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> and liabilities</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> held for sale and discontinued operations</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Non-current assets and related liabilities are classified as held for sale if it is highly probable that their book value will be recovered, primarily</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> through a sale transaction rather than continued use. The classification criteria are met only when the sale is highly probable, the asset or group of assets is held for immediate sale in its current condition and the sale is expected to occur within 12 months after classification as held for sale.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">A line of business or subsidiary is classified a discontinued operation when the sale of a component of the company that represents an important separate line of business or when the operation meets the criteria to be classified as held for sale, if occurs before, being its results and cash flows presented separately based on the classification of the respective assets and liabilities as held for sale.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Assets and liabilities held for sale and discontinued operations are measured at the lower of the</font><font style="font-family: 'Times New Roman';"> book value</font><font style="font-family: 'Times New Roman';"> and fair value, net of selling expenses, and presented separately in the </font><font style="font-family: 'Times New Roman';">statements of financial position</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">h</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. Investments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Investments in subsidiaries are accounted for under the equity method of accounting in the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of the parent</font><font style="font-family: 'Times New Roman';">&#8217;s separate</font><font style="font-family: 'Times New Roman';"> company (see Notes </font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">.b and </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">.a). A subsidiary is an investee in which the investor is entitled to variable returns on investment and has the ability to interfere in its financial and operational activities. Usually the equity interest in a subsidiary is more than 50%.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Investments in associates and joint ventures are accounted for under the equity method of accounting in the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';"> items b and c). An associate is an investment, in which an investor has significant influence, that is, has the power to participate in the financial and operating decisions of the investee but does not exercise control. A joint venture is an investment in which the shareholders have the right to net assets on behalf of a joint control. Joint control is the agreement, which establish that decisions about the relevant activities of the investee require the consent from the parties that share control.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other investments are stated at acquisition cost less provision for losses, unless the loss is considered temporary.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>21</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;"><br></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. Right</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">-of-</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">use assets and lease</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> payable</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">Company and its </font><font style="font-family: 'Times New Roman';">subsidiaries recognized in the financial position, a right</font><font style="font-family: 'Times New Roman';">-of-</font><font style="font-family: 'Times New Roman';">use assets and the </font><font style="font-family: 'Times New Roman';">respective lease</font><font style="font-family: 'Times New Roman';"> liabilities</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">initially measured at the present value of future lease payments, considering the related contract costs (see Note </font><font style="font-family: 'Times New Roman';">14</font><font style="font-family: 'Times New Roman';">). </font><font style="font-family: 'Times New Roman';">The amortization expenses of right</font><font style="font-family: 'Times New Roman';">-of-</font><font style="font-family: 'Times New Roman';">use assets is recognized in statement of profit or loss </font><font style="font-family: 'Times New Roman';">over the lease contract term</font><font style="font-family: 'Times New Roman';">. When the right-of-use asset is used</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> the</font><font style="font-family: 'Times New Roman';"> construction of the </font><font style="font-family: 'Times New Roman';">property, plant, and equipment</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(&#8220;PP&amp;E&#8221;)</font><font style="font-family: 'Times New Roman';">, its amortization is capitalized until</font><font style="font-family: 'Times New Roman';"> the asset under construction </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">completed</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The liability is increased for interest and </font><font style="font-family: 'Times New Roman';">decreased by lease</font><font style="font-family: 'Times New Roman';"> payments</font><font style="font-family: 'Times New Roman';"> made</font><font style="font-family: 'Times New Roman';">. The </font><font style="font-family: 'Times New Roman';">interests</font><font style="font-family: 'Times New Roman';"> are recognized in the statement of profit or loss using the effective interest rate method.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The remeasurement of assets and liabilities based on the contractual index is recognized in the financial position, not having an effect in the result. In case of cancellation of the contract, the assets and respective liabilities are written off to the result</font><font style="font-family: 'Times New Roman';">, considering, if it is the case, any penalties provided in contractual clauses. </font><font style="font-family: 'Times New Roman';">The Company and its subsidiaries have no intention in purchasing the underlying asset. </font><font style="font-family: 'Times New Roman';">The Company and its subsidiaries </font><font style="font-family: 'Times New Roman';">periodically </font><font style="font-family: 'Times New Roman';">review the existence of an indication that the righ</font><font style="font-family: 'Times New Roman';">t</font><font style="font-family: 'Times New Roman';">-of-</font><font style="font-family: 'Times New Roman';">use assets may </font><font style="font-family: 'Times New Roman';">be impaired</font><font style="font-family: 'Times New Roman';"> (see </font><font style="font-family: 'Times New Roman';">N</font><font style="font-family: 'Times New Roman';">ote 2.</font><font style="font-family: 'Times New Roman';">v</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Right</font><font style="font-family: 'Times New Roman';">-of-</font><font style="font-family: 'Times New Roman';">use assets include amo</font><font style="font-family: 'Times New Roman';">u</font><font style="font-family: 'Times New Roman';">nts related to </font><font style="font-family: 'Times New Roman';">area port leases</font><font style="font-family: 'Times New Roman';"> grants (see Note </font><font style="font-family: 'Times New Roman';">35</font><font style="font-family: 'Times New Roman';">.c)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">Company and its </font><font style="font-family: 'Times New Roman';">subsidiaries </font><font style="font-family: 'Times New Roman';">apply </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">recognition </font><font style="font-family: 'Times New Roman';">exemptions </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">short-term leases of 12 months or less and lease </font><font style="font-family: 'Times New Roman';">contracts </font><font style="font-family: 'Times New Roman';">of low amount assets. In these cases, the recognition of the lease expense in the statements of profit or loss is on a straight-line basis.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">j</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Property, plant, and equipment</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">PP&amp;E </font><font style="font-family: 'Times New Roman';">is recognized at acquisition or construction cost, including </font><font style="font-family: 'Times New Roman';">capitalization of right-of-use assets amortization and </font><font style="font-family: 'Times New Roman';">financial charges incurred on </font><font style="font-family: 'Times New Roman';">PP&amp;E</font><font style="font-family: 'Times New Roman';"> under construction, as well as </font><font style="font-family: 'Times New Roman';">qualifying</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">maintenance costs resulting from scheduled plant outages and estimated costs to remove, to decommission</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> or to restore assets (see Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">o</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">22</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">less </font><font style="font-family: 'Times New Roman';">accumulated depreciation and, when applicable, </font><font style="font-family: 'Times New Roman';">less</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">provision for </font><font style="font-family: 'Times New Roman';">losses</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">15</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Depreciation is calculated using the straight-line method, </font><font style="font-family: 'Times New Roman';">over </font><font style="font-family: 'Times New Roman';">the periods mentioned in Note </font><font style="font-family: 'Times New Roman';">15</font><font style="font-family: 'Times New Roman';">, taking into account the </font><font style="font-family: 'Times New Roman';">estimated </font><font style="font-family: 'Times New Roman';">useful li</font><font style="font-family: 'Times New Roman';">ves</font><font style="font-family: 'Times New Roman';"> of the assets, which are reviewed annually.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Lease</font><font style="font-family: 'Times New Roman';">s </font><font style="font-family: 'Times New Roman';">hold improvements are depreciated over the shorter of the lease contract term and useful life of the property.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>22</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">k</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Intangible </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ssets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Intangible assets include assets acquired by the Company and its subsidiaries from third parties,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">are recognized</font><font style="font-family: 'Times New Roman';"> according to the criteria below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Goodwill is shown as intangible assets corresponding to the positive difference between the amount paid or payable to the seller and the fair value of the </font><font style="font-family: 'Times New Roman';">identifiable</font><font style="font-family: 'Times New Roman';"> assets and liabilities assumed of the acquired entity. Goodwill is tested annually for impairment. Goodwill is allocated to the business segments, which represent the lowest level that goodwill is monitored for impairment testing purposes (see Note </font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';">.a).</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Other intangible assets acquired from third parties, such as software</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">, technology, and commercial property rights, are measured at the total acquisition cost and amortized using straight-line method, over the periods mentioned in Note </font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';">, taking into account their useful lives, which are reviewed annually.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">d</font><font style="font-family: 'Times New Roman';">ecarbonization </font><font style="font-family: 'Times New Roman';">c</font><font style="font-family: 'Times New Roman';">redits (</font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">CBIOS</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">) acquired are recorded at historical cost in intangible assets</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">retired in the year to </font><font style="font-family: 'Times New Roman';">fulfillment</font><font style="font-family: 'Times New Roman';"> the individual target set by the National Agency </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman';"> Petroleum, Natural Gas and Biofuels (&#8220;ANP&#8221;)</font><font style="font-family: 'Times New Roman';"> and are not amortized. These assets are used to settle</font><font style="font-family: 'Times New Roman';"> of</font><font style="font-family: 'Times New Roman';"> the </font><font style="font-family: 'Times New Roman';">annual deca</font><font style="font-family: 'Times New Roman';">r</font><font style="font-family: 'Times New Roman';">bonization obligation adopted by Brazilian National Biofuels Policy </font><font style="font-family: 'Times New Roman';">(&#8220;</font><font style="font-family: 'Times New Roman';">RenovaBio</font><font style="font-family: 'Times New Roman';">&#8221;), </font><font style="font-family: 'Times New Roman';">implemented by Law No. </font><font style="font-family: 'Times New Roman';">13,576/2017, with additional regulations established by Decree No. 9,888/2019 and Ordinance No. 419 of November 20, 2019 issued by the Brazilian Ministry of Mines and Energy</font><font style="font-family: 'Times New Roman';">.</font></font></li>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries have not recognized intangible assets that were </font><font style="font-family: 'Times New Roman';">generated</font><font style="font-family: 'Times New Roman';"> internally. </font><font style="font-family: 'Times New Roman';">The Company and its subsidiaries have goodwill and brands acquired in business combination</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">, which are evaluated as intangible assets with indefinite useful life (see Note </font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';"> items </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Other assets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other assets are stated at the lower of cost and realizable value, including, if applicable, interest earned, monetary changes and changes in exchange rates incurred, less the provisions for losses and, if applicable, adjusted to present value.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">m</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Financial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">iabilities</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The financial liabilities include trade payables, other payables, financing, loans, debentures</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">leases</font><font style="font-family: 'Times New Roman';"> payable</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">derivative financial </font><font style="font-family: 'Times New Roman';">instruments. Financial liabilities are classified as &#8220;financial liabilities at fair value through profit or loss&#8221; or &#8220;financial liabilities at amorti</font><font style="font-family: 'Times New Roman';">z</font><font style="font-family: 'Times New Roman';">ed cost&#8221;. The financial liabilities at fair value through profit or loss refer to derivative financial instruments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">subscription warrants</font><font style="font-family: 'Times New Roman';"> - indemnification</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">and financial liabilities designated as hedged items in a fair value hedge relationship upon initial recognition (see Note 2.c &#8211; </font><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">air </font><font style="font-family: 'Times New Roman';">V</font><font style="font-family: 'Times New Roman';">alue </font><font style="font-family: 'Times New Roman';">H</font><font style="font-family: 'Times New Roman';">edge). The financial liabilities at amorti</font><font style="font-family: 'Times New Roman';">z</font><font style="font-family: 'Times New Roman';">ed cost are stated at the initial transaction amount plus related charges and </font><font style="font-family: 'Times New Roman';">net of amortization and </font><font style="font-family: 'Times New Roman';">transaction costs. The charges are recognized in </font><font style="font-family: 'Times New Roman';">the statement of </font><font style="font-family: 'Times New Roman';">profit or loss using the effective interest rate method.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Transaction costs incurred and directly attributable to the activities necessary for contracting loans or for issuing bonds, as well as premiums and discounts upon issuance of debentures and other debt, are allocated to the instrument and amortized </font><font style="font-family: 'Times New Roman';">in the statement of</font><font style="font-family: 'Times New Roman';"> profit or loss </font><font style="font-family: 'Times New Roman';">taking into</font><font style="font-family: 'Times New Roman';"> its term,</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">using the effective interest rate method</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">h</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>23</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">n</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Income and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ocial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ontribution </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">axes on </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ncome</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Current and deferred income tax (&#8220;IRPJ&#8221;) and social contribution on net income tax (&#8220;CSLL&#8221;) are calculated based on their current rates</font><font style="font-family: 'Times New Roman';">. For the calculation of current IRPJ</font><font style="font-family: 'Times New Roman';">, the value of tax incentives</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> also considered</font><font style="font-family: 'Times New Roman';">. At the end of the fiscal year the portion of the profit corresponding to these investment grants is allocated to the constitution of a tax incentive reserve in subsidiaries shareholders' equity and is excluded from the dividend calculation base and subsequently capitalized. Taxes are recognized based on the rates of IRPJ and CSLL provided for by the laws enacted on the last day of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">The current rates in Brazil are 25% for </font><font style="font-family: 'Times New Roman';">IRPJ</font><font style="font-family: 'Times New Roman';"> and 9% for </font><font style="font-family: 'Times New Roman';">CSLL</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">information</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">about recognition and realization of IRPJ and CSLL see Note </font><font style="font-family: 'Times New Roman';">10</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For purposes of disclosure deferred tax assets were offset against the deferred tax liability </font><font style="font-family: 'Times New Roman';">IRPJ</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">CSLL</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> the same taxable entity and the same tax authority.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">o</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Provision for </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">sset </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">et</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">rement </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">o</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">bligation &#8211; fuel tanks</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subsidiar</font><font style="font-family: 'Times New Roman';">y Ipiranga</font><font style="font-family: 'Times New Roman';"> ha</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> the legal obligation to remove </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman';"> underground fuel tanks located at Ipiranga-branded service stations after a certain period. The estimated cost of the obligation to remove these fuel tanks is recognized as a liability when </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">tanks are installed. The estimated cost is recognized in </font><font style="font-family: 'Times New Roman';">PP&amp;E</font><font style="font-family: 'Times New Roman';"> and depreciated over the respective useful li</font><font style="font-family: 'Times New Roman';">ves</font><font style="font-family: 'Times New Roman';"> of the asset. The amounts recognized as a liability </font><font style="font-family: 'Times New Roman';">accrue </font><font style="font-family: 'Times New Roman';">inflation effect</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">using the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Amplified</font><font style="font-family: 'Times New Roman';"> Consumer Price Index </font><font style="font-family: 'Times New Roman';">(&#8220;</font><font style="font-family: 'Times New Roman';">IPCA</font><font style="font-family: 'Times New Roman';">&#8221;)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">until the tank is removed (see Note</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">22</font><font style="font-family: 'Times New Roman';">). The estimated removal cost is reviewed and updated annually or when there is significant change in its amount</font><font style="font-family: 'Times New Roman';"> and change in the estimated cost</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> are recognized in </font><font style="font-family: 'Times New Roman';">statements of profit or loss</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">when they become known</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">p</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Provisions for tax, civil, and labor risks</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">A provision for tax, civil and labor risks is recognized for quantifiable risks, when the chance of loss is more-likely-than-not in the opinion of management and internal and external legal counsel, and the amounts are recognized based on </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">evaluation of the outcomes of the legal proceedings (see Note </font><font style="font-family: 'Times New Roman';">23</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">q</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Post-employment benefits</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Post-employment benefits granted and to be granted to employees, retirees, and pensioners are based on an actuarial calculation prepared by an independent actuary</font><font style="font-family: 'Times New Roman';"> and reviewed by management</font><font style="font-family: 'Times New Roman';">, using the projected unit credit method (see Note </font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">.b). The actuarial gains and losses are recognized in </font><font style="font-family: 'Times New Roman';">equity in </font><font style="font-family: 'Times New Roman';">cumulative </font><font style="font-family: 'Times New Roman';">other comprehensive income</font><font style="font-family: 'Times New Roman';"> in the &#8220;Valuation adjustments&#8221;</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Other </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">iabilities</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Other liabilities are stated at known or measurable amounts and changes in exchange rates incurred. When applicable, other liabilities are recognized at present value</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> based on interest rates that reflect the term, currency</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and risk of each transaction.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>24</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Foreign currency transactions</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Foreign currency transactions carried out by the Company or its subsidiaries are remeasured into their functional currency at the exchange rate prevailing at the date of each transaction. Outstanding monetary assets and liabilities of the Company and its subsidiaries are translated using the exchange rate at the </font><font style="font-family: 'Times New Roman';">date</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">. The effect of the difference between those exchange rates is recognized in </font><font style="font-family: 'Times New Roman';">financial results</font><font style="font-family: 'Times New Roman';"> until the conclusion of each transaction.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Basis for </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ranslation of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">statements</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">oreign </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ubsidiaries</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">.1 Subsidiaries with administrative </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">authority</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Assets and liabilities of the foreign subsidiaries denominated in currencies other than Brazilian Real which have administrative </font><font style="font-family: 'Times New Roman';">authority</font><font style="font-family: 'Times New Roman';"> are translated using the exchange rate at the </font><font style="font-family: 'Times New Roman';">date of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">. Revenues and expenses are translated using the average exchange rate of each </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and equity </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> translated at the historic</font><font style="font-family: 'Times New Roman';">al</font><font style="font-family: 'Times New Roman';"> exchange rate of each transaction affecting equity. Gains and losses resulting from changes in these foreign investments are directly recognized in equity </font><font style="font-family: 'Times New Roman';">in the &#8220;</font><font style="font-family: 'Times New Roman';">cumulative translation adjustments</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';"> and will be recognized in profit or loss if and when these investments are disposed of. The balance in </font><font style="font-family: 'Times New Roman';">cumulative </font><font style="font-family: 'Times New Roman';">translation adjustments</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">on </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">was </font><font style="font-family: 'Times New Roman';">a </font><font style="font-family: 'Times New Roman';">gain</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of R$ </font><font style="font-family: 'Times New Roman';">304,</font><font style="font-family: 'Times New Roman';">645</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(gain of R$ </font><font style="font-family: 'Times New Roman';">231,596</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">on December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and is related to the subsidiaries Oxiteno which on December 31, 2021 were classified as assets and liabilities held for sale. </font><font style="font-family: 'Times New Roman';">S</font><font style="font-family: 'Times New Roman';">ee Note</font><font style="font-family: 'Times New Roman';">s 3 and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">26</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">g</font><font style="font-family: 'Times New Roman';">.2</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The foreign subsidiaries with functional currency different from the Company and which have administrative </font><font style="font-family: 'Times New Roman';">authority</font><font style="font-family: 'Times New Roman';"> are listed below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subsidiary</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Functional</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> currency</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Location</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno M&#233;xico S.A. de C.V.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexican Peso</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">Oxiteno Servicios Corporativos S.A. de C.V.</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexican Peso</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">Oxiteno Servicios</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Industriales</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">S.A. </font><font style="font-family: 'Times New Roman';">de C.V.</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexican Peso</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">Oxiteno USA LLC</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Dollar</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">United States</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Uruguay S.A. <font style="font-size: 8pt;"><sup>(i)</sup></font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Dollar</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Uruguay</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<td valign="top" style="width: 20.2557px; padding: 0px; vertical-align: top;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></font></td>
<td valign="top" style="width: 790.284px; padding: 0px; vertical-align: top;"><font style="font-size: 8pt;"><font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The subsidiary&nbsp;Oxiteno&nbsp;Uruguay S.A. (&#8220;Oxiteno&nbsp;Uruguay&#8221;) determined its functional currency as the U.S. dollar</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;(&#8220;US$&#8221;)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, as its&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">inventory&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">sales, purchases of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">raw material inputs</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, and financing activities are performed substantially in this currency.</font></font></font></td>
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<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">.2 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Subsidiaries without administrative </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">authority</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Assets and liabilities of the other foreign subsidiaries, which do not have administrative </font><font style="font-family: 'Times New Roman';">authority</font><font style="font-family: 'Times New Roman';">, are considered an </font><font style="font-family: 'Times New Roman';">extension</font><font style="font-family: 'Times New Roman';"> of the activities of their parent company and are translated using the exchange rate at the </font><font style="font-family: 'Times New Roman';">date of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">. Gains and losses resulting from changes in these foreign investments are directly recognized as financial </font><font style="font-family: 'Times New Roman';">result</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he </font><font style="font-family: 'Times New Roman';">gain</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">recognized in </font><font style="font-family: 'Times New Roman';">income </font><font style="font-family: 'Times New Roman';">for the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">amounted to R$ </font><font style="font-family: 'Times New Roman';">2,309</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(gain</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of R$ </font><font style="font-family: 'Times New Roman';">15,126</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2020</font><font style="font-family: 'Times New Roman';"> - restated</font><font style="font-family: 'Times New Roman';">).</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>25</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Use of estimates, assumptions and judgments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The preparation of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">requires the use of estimates, assumptions</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and judgments for the accounting and disclosure of certain assets, liabilities</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">profit or loss</font><font style="font-family: 'Times New Roman';">. Therefore, </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Company and subsidiaries&#8217; management use the best information available at the </font><font style="font-family: 'Times New Roman';">date</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of preparation of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">, as well as the experience of past and current events, also considering assumptions regarding future events. The estimates and assumptions are reviewed periodically</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">.1 Judgments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Information on the judgments is included: in </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">determin</font><font style="font-family: 'Times New Roman';">ation of</font><font style="font-family: 'Times New Roman';"> control </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> subsidiaries (Notes 2.</font><font style="font-family: 'Times New Roman';">h</font><font style="font-family: 'Times New Roman';">, 2.</font><font style="font-family: 'Times New Roman';">t</font><font style="font-family: 'Times New Roman';">.1, </font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">.a), </font><font style="font-family: 'Times New Roman';">the determination of </font><font style="font-family: 'Times New Roman';">joint control </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> joint venture (Notes 2.</font><font style="font-family: 'Times New Roman';">h</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">.a and </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">.b)</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">determin</font><font style="font-family: 'Times New Roman';">ation</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">significant influence </font><font style="font-family: 'Times New Roman';">in associates </font><font style="font-family: 'Times New Roman';">(Notes 2.</font><font style="font-family: 'Times New Roman';">h</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">.c)</font><font style="font-family: 'Times New Roman';"> and determination of assets and liabilities held for sale and discontinued operations (Note 3)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">.2 Uncertainties </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">related to the</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> assumptions and estimates</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The information regarding uncertainties related to the assumptions and estimates are included: in </font><font style="font-family: 'Times New Roman';">determining the fair value of financial instruments (Notes </font><font style="font-family: 'Times New Roman';">2.c, 2.</font><font style="font-family: 'Times New Roman';">m</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">), the determination of the </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> (Note</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">2.d, </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.d.3</font><font style="font-family: 'Times New Roman';">), </font><font style="font-family: 'Times New Roman';">the determination of provisions for losses of inventories (Note</font><font style="font-family: 'Times New Roman';">s 2.e</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">), </font><font style="font-family: 'Times New Roman';">the estima</font><font style="font-family: 'Times New Roman';">tes</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">realization of deferred </font><font style="font-family: 'Times New Roman';">IRPJ and CSLL</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">amounts </font><font style="font-family: 'Times New Roman';">(Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">n</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">10</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';">), </font><font style="font-family: 'Times New Roman';">the useful lives and discount rate of right</font><font style="font-family: 'Times New Roman';">-of-</font><font style="font-family: 'Times New Roman';">use assets (Notes 2.</font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">14</font><font style="font-family: 'Times New Roman';">),</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the useful li</font><font style="font-family: 'Times New Roman';">ves </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">PP&amp;E</font><font style="font-family: 'Times New Roman';"> (Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">j</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">15</font><font style="font-family: 'Times New Roman';">), the useful li</font><font style="font-family: 'Times New Roman';">ves</font><font style="font-family: 'Times New Roman';"> of intangible assets</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and the determination of the recoverable amount of goodwill (Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">k</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';">), provisions for assets retirement obligations (Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">o</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">22</font><font style="font-family: 'Times New Roman';">), </font><font style="font-family: 'Times New Roman';">provisions for </font><font style="font-family: 'Times New Roman';">tax, civil</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and labor</font><font style="font-family: 'Times New Roman';"> risks</font><font style="font-family: 'Times New Roman';"> (Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">23</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> estimates for the preparation of actuarial reports (Note</font><font style="font-family: 'Times New Roman';">s 2.</font><font style="font-family: 'Times New Roman';">q</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">.b)</font><font style="font-family: 'Times New Roman';"> and the determination of fair value of subscription warrants &#8211; indemnification</font><font style="font-family: 'Times New Roman';"> (Notes </font><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.j</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">. The actual result of the transactions and information may differ from their estimates.</font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>26</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">v</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Impairment of assets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries review </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman';">every report</font><font style="font-family: 'Times New Roman';">ing</font><font style="font-family: 'Times New Roman';"> period</font><font style="font-family: 'Times New Roman';"> the existence of </font><font style="font-family: 'Times New Roman';">any </font><font style="font-family: 'Times New Roman';">indication that an asset may be impaired.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">To </font><font style="font-family: 'Times New Roman';">intangible assets with </font><font style="font-family: 'Times New Roman';">indefinite</font><font style="font-family: 'Times New Roman';"> useful life</font><font style="font-family: 'Times New Roman';"> the review is done annually. If there is an indication</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">devaluation</font><font style="font-family: 'Times New Roman';"> the Company and its subsidiaries estimate the recoverable amount of the asset. Assets that cannot be evaluated individually are grouped in the smallest group of assets that generate cash </font><font style="font-family: 'Times New Roman';">inflow</font><font style="font-family: 'Times New Roman';"> from continuous use and that are largely independent of cash flows of other assets (</font><font style="font-family: 'Times New Roman';">cash generating units</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> &#8220;</font><font style="font-family: 'Times New Roman';">CGU</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">). The recoverable amount of assets or CGUs corresponds to the greater of their fair value net of applicable direct selling costs and their value in use.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The fair value </font><font style="font-family: 'Times New Roman';">less</font><font style="font-family: 'Times New Roman';"> costs </font><font style="font-family: 'Times New Roman';">to sell</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is determined by the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date, net of costs of removing the asset, and direct incremental costs to bring an asset into condition for its sale, legal costs</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and taxes.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">To assess the value in use, the projections of future cash flows, trends</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and outlooks, as well as the effects of obsolescence, demand, competition</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and other economic factors</font><font style="font-family: 'Times New Roman';"> were considered</font><font style="font-family: 'Times New Roman';">. Such cash flows are discounted to their present values &#8203;&#8203;using the discount rate before tax that reflects market conditions for the period of impairment testing and the specific risks of the asset or CGU being evaluated. In cases where the expected discounted future cash flows are less than their carrying amount, </font><font style="font-family: 'Times New Roman';">an </font><font style="font-family: 'Times New Roman';">impairment loss is recognized for the amount by which the carrying value exceeds the fair value of these assets. Losses for impairment of assets are recognized in profit or loss. In case goodwill has been allocated to a CGU, the recognized losses are first allocated to reduce the corresponding goodwill. If the goodwill is not enough to absorb such losses, the surplus is allocated to the assets on a pro-rata basis. An impairment of goodwill cannot be reversed. For other assets, impairment losses may be reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if the impairment had not been recognized.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021, the Company </font><font style="font-family: 'Times New Roman';">updated the calculation of the </font><font style="font-family: 'Times New Roman';">impairment of assets </font><font style="font-family: 'Times New Roman';">realized on June 30, 2021, </font><font style="font-family: 'Times New Roman';">for the subsidiary Imifarma Produtos Farmac&#234;uticos e Cosm&#233;ticos S.A. (&#8220;Extrafarma&#8221;) in the amount of R$ </font><font style="font-family: 'Times New Roman';">427,529</font><font style="font-family: 'Times New Roman';"> and deferred income and social contribution taxes effects of R$ </font><font style="font-family: 'Times New Roman';">145,360</font><font style="font-family: 'Times New Roman';">, resulting in a net loss of R$ </font><font style="font-family: 'Times New Roman';">282,169</font><font style="font-family: 'Times New Roman';">. S</font><font style="font-family: 'Times New Roman';">ee Note 3.</font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">w</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Business </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ombination</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">A business combination is accounted </font><font style="font-family: 'Times New Roman';">applying</font><font style="font-family: 'Times New Roman';"> the acquisition method. The cost of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">acquisition is measured </font><font style="font-family: 'Times New Roman';">based on </font><font style="font-family: 'Times New Roman';">the consideration transferred and to be transferred, measured at fair value at the acquisition date. In </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';"> business</font><font style="font-family: 'Times New Roman';"> combination</font><font style="font-family: 'Times New Roman';">, the assets acquired</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and liabilities assumed are </font><font style="font-family: 'Times New Roman';">measured </font><font style="font-family: 'Times New Roman';">in order to classify and allocate them accordingly to the contractual terms, economic circumstances and relevant conditions on the acquisition date. The non-controlling interest in the acquired company</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is measured based on its interest in net assets identified in the acquired company. Goodwill is measured as the excess of the </font><font style="font-family: 'Times New Roman';">consideration transferred and to be transferred</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">over the fair value of net assets acquired (identifiable assets and liabilities assumed, net). After </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">initial recognition, goodwill is measured at cost less any accumulated impairment losses. For impairment testing purposes, goodwill is allocated to the Company&#8217;s </font><font style="font-family: 'Times New Roman';">operating </font><font style="font-family: 'Times New Roman';">segment</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">. When the </font><font style="font-family: 'Times New Roman';">c</font><font style="font-family: 'Times New Roman';">ost of the acquisition</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is </font><font style="font-family: 'Times New Roman';">lower</font><font style="font-family: 'Times New Roman';"> than the fair value of net assets acquired, </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';"> gain is recognized directly in the statement</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of profit or loss</font><font style="font-family: 'Times New Roman';">. Costs related to the acquisitions are recorded in the statement </font><font style="font-family: 'Times New Roman';">of profit or loss </font><font style="font-family: 'Times New Roman';">when incurred. For the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended on </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';"> there </font><font style="font-family: 'Times New Roman';">was</font><font style="font-family: 'Times New Roman';"> not business combination.</font></font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
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<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">x</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Statements of value added</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The</font><font style="font-family: 'Times New Roman';"> statements of value added (&#8220;DVA&#8221;) </font><font style="font-family: 'Times New Roman';">are presented </font><font style="font-family: 'Times New Roman';">as an integral part of the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman';"> applicable to publicly</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">traded companies</font><font style="font-family: 'Times New Roman';"> in Brazil, according to Law 11,638/07</font><font style="font-family: 'Times New Roman';"> and as supplemental information for </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">IFRS, </font><font style="font-family: 'Times New Roman';">which </font><font style="font-family: 'Times New Roman';">do</font><font style="font-family: 'Times New Roman';">es</font><font style="font-family: 'Times New Roman';"> not require the presentation of DVA.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">y</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Statements of cash flows indirect method</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries present the interest paid on loans</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">financing, </font><font style="font-family: 'Times New Roman';">debentures</font><font style="font-family: 'Times New Roman';">, and leases payable</font><font style="font-family: 'Times New Roman';"> in financing activities</font><font style="font-family: 'Times New Roman';"> and present </font><font style="font-family: 'Times New Roman';">financial investments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> net of </font><font style="font-family: 'Times New Roman';">redemptions</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">invest</font><font style="font-family: 'Times New Roman';">ing </font><font style="font-family: 'Times New Roman';">activities</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">z</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Adoption of the pronouncements issued by CPC and IASB</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">There are not standards, amendments and interpretations to IFRS issued by the IASB which are effective and could have impact in </font><font style="font-family: 'Times New Roman';">th</font><font style="font-family: 'Times New Roman';">ese</font><font style="font-family: 'Times New Roman';"> financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> to </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">2021</font><font style="font-family: 'Times New Roman';"> that have not been adopted by the Company.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In order to be prepared for the transition of the IBORs</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> the Company is monitoring the pronouncements of the authorities, as well as the measures that have been adopted, aiming at the adaptation of the financial instruments to the new benchmarks. </font><font style="font-family: 'Times New Roman';">On</font><font style="font-family: 'Times New Roman';"> June 2017, the Company, through the subsidiary IPP, contracted a </font><font style="font-family: 'Times New Roman';">financing</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">with maturity date</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">on</font><font style="font-family: 'Times New Roman';"> June 2022, with the current notional amount of USD 50 million linked to LIBOR, with quarterly interest flows and principal amortization at the end of the </font><font style="font-family: 'Times New Roman';">operatio</font><font style="font-family: 'Times New Roman';">n</font><font style="font-family: 'Times New Roman';">. At the time of </font><font style="font-family: 'Times New Roman';">debt raising</font><font style="font-family: 'Times New Roman';">, a swap transaction with a notional value and cash flow identical to that of </font><font style="font-family: 'Times New Roman';">raising</font><font style="font-family: 'Times New Roman';"> was closed with the same financial institution, through which the IPP became active in LIBOR, at an interest rate equivalent to the debt </font><font style="font-family: 'Times New Roman';">and liabilit</font><font style="font-family: 'Times New Roman';">y</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">rate in floating rate </font><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">eais (see </font><font style="font-family: 'Times New Roman';">N</font><font style="font-family: 'Times New Roman';">otes 17 c.1, 17.d</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">34.g), these being the only operations </font><font style="font-family: 'Times New Roman';">linked</font><font style="font-family: 'Times New Roman';"> to LIBOR. In view of the short-term maturity </font><font style="font-family: 'Times New Roman';">as well as</font><font style="font-family: 'Times New Roman';"> the debt</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> the swap and the fact that both have the same cash flow and financial institution, the Company understands that there are</font><font style="font-family: 'Times New Roman';"> not</font><font style="font-family: 'Times New Roman';"> currently impacts from the LIBOR change on its operations.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">aa</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Authorization for issuance of the financial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">statements</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">These financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">w</font><font style="font-family: 'Times New Roman';">ere</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">authorized for issu</font><font style="font-family: 'Times New Roman';">anc</font><font style="font-family: 'Times New Roman';">e by the Board of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">D</font><font style="font-family: 'Times New Roman';">irectors on</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">February</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">202</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt; font-weight: bold;">3. Assets and liabilities from subsidiaries held for sale and discontinued operations</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The divestments of Oxiteno and Extrafarma are aligned with </font><font style="font-family: 'Times New Roman';">Ultrapar&#8217;s </font><font style="font-family: 'Times New Roman';">portfolio review. With a more complementary and synergistic </font><font style="font-family: 'Times New Roman';">businesses</font><font style="font-family: 'Times New Roman';">, Ultrapar concludes the</font><font style="font-family: 'Times New Roman';"> rationalization</font><font style="font-family: 'Times New Roman';"> phase of its portfolio and will now concentrate on developing investment opportunities in the verticals of energy and infrastructure, with increasing focus on energy transition, leveraged by its portfolio and expertise. </font><font style="font-family: 'Times New Roman';">In the context, the Company announced the&nbsp;<font style="font-size: 10pt; font-family: 'Times New Roman', serif;">contracts signings</font> described below </font><font style="font-family: 'Times New Roman';">and, as of December 31, 2021,</font><font style="font-family: 'Times New Roman';"> considering the </font><font style="font-family: 'Times New Roman';">evolution</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and progress of the sales processes</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">classified these transactions as assets and liabilities held for sale and discontinued operations.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Extrafarma share sale and purchase agreement and other agreements</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On May 18, 2021 the Company announced the signing of a share purchase agreement for the sale of all shares of Extrafarma </font><font style="font-family: 'Times New Roman';">held by subsidiary IPP </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">Empreendimentos </font><font style="font-family: 'Times New Roman';">Pague Menos</font><font style="font-family: 'Times New Roman';"> S.A. (&#8220;Pague Menos&#8221;)</font><font style="font-family: 'Times New Roman';">. The total sale price is R$ 700 million, subject to adjustments due mainly to changes in working capital and Extrafarma's net debt position on the closing date of the transaction.</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The payment of the transaction will be in three installments: 50% on the closing date and 25% on each the first and the second anniversary of the closing date</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">monetarily updated by the CDI rate + 0.5% p.a.,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">with a</font><font style="font-family: 'Times New Roman';"> guarantee will be provided by a shareholder of the Pague Menos for the last two installments. The completion of this transaction is subject to usual conditions precedent in such deals, including approval by the Brazilian antitrust authority and by the general shareholders&#8217; meeting of Pague Menos, pursuant to the terms of article 256 of the Brazilian Corporate Law, which was already held by the purchasing company. Furthermore, preemptive rights were granted to Company's shareholders who wished to acquire Extrafarma's shares, proportionally to their respective participation in the Company's share capital and for the same price per share to be paid by Pague Menos, pursuant to article 253 of the Brazilian Corporate Law. The shareholders of the Company that exercised such right will become direct shareholders of Extrafarma after closing of the transaction. The company realized a general shareholders&#8217; meeting on June 25, 2021 in which was formalized the offering of the aforementioned preemptive rights, detailing the procedures for its exercise, as applicable. The exercise period ended on July 29, 2021 and the total exercised was less than 1% of the Company's capital.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On February 11, 2022, the Administrative Council for Economic Defense ("CADE") issued an order declaring the Concentration Act no. 08700.005053/2021-74 regarding the acquisition of Extrafarma by Pague Menos. This declaration of complexity is a regular </font><font style="font-family: 'Times New Roman';">phase</font><font style="font-family: 'Times New Roman';"> within the ordinary rite for</font><font style="font-family: 'Times New Roman';"> concentration acts whose analysis by CADE needs further investigation</font><font style="font-family: 'Times New Roman';">. The companies continue to work with CADE in a transparent manner to provide all necessary clarifications.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Extrafarma and Pague Menos will maintain their regular course of business, </font><font style="font-family: 'Times New Roman';">on an independent manner,</font><font style="font-family: 'Times New Roman';"> until the closing date of the transaction.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>29</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021, the Company realized the calculation of impairment test of assets taking into account the amount of transaction and recognized a reduction in the amount of the subsidiary's assets in the amount of R$ </font><font style="font-family: 'Times New Roman';">282</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">169</font><font style="font-family: 'Times New Roman';">, net of the effects of deferred income and social contribution taxes, as allocated below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 11.35pt;">
<td style="vertical-align: bottom; width: 85%;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15%;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amount</font></p>
</td>
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<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Goodwill</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,273</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Residual surplus value of fixed assets</font></p>
</td>
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">160</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Intangibles assets arising from business combination</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">76,</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">136</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Property, plant, and equipment</font></p>
</td>
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">0,548</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Right-of-use assets</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">38,957</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Taxes to recover</font></p>
</td>
<td style="vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">83,455</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Impairment</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">427,529</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Deferred income and social contribution taxes</font></p>
</td>
<td style="vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">145,360</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">impairment</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">282,169</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Oxiteno S.A. share purchase and sale agreement</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On August 16, 2021, the Company announced the sign</font><font style="font-family: 'Times New Roman';">ing</font><font style="font-family: 'Times New Roman';"> of a</font><font style="font-family: 'Times New Roman';"> share purchase </font><font style="font-family: 'Times New Roman';">agreement for the sale of </font><font style="font-family: 'Times New Roman';">all shares of </font><font style="font-family: 'Times New Roman';">Oxiteno S.A. &#8211; Ind&#250;stria e Com&#233;rcio (&#8220;</font><font style="font-family: 'Times New Roman';">Oxiteno S.A.</font><font style="font-family: 'Times New Roman';">&#8221;)</font><font style="font-family: 'Times New Roman';"> to Indorama </font><font style="font-family: 'Times New Roman';">Ventures PLC (&#8220;Indorama&#8221;)</font><font style="font-family: 'Times New Roman';">. The total sale </font><font style="font-family: 'Times New Roman';">price</font><font style="font-family: 'Times New Roman';">&nbsp; was US$ 1,300 million, of which US$ 1,150 million </font><font style="font-family: 'Times New Roman';">will be paid </font><font style="font-family: 'Times New Roman';">at closing of the transaction, subject to </font><font style="font-family: 'Times New Roman';">customary</font><font style="font-family: 'Times New Roman';"> adjustments, such as changes in working capital and net debt position, and US$ 150 million</font><font style="font-family: 'Times New Roman';"> will be paid</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> the second anniversary after closing.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Oxiteno S.A. is controlled by the Company, which holds a 100% interest in the Company.</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Company's shareholders were offered, under the terms and for the purposes of article 253, items I and II, of the Brazilian Corporation Law, a period of 30 days to exercise the preemptive right to subscribe to new shares issued by Oxiteno and to acquire of shares sold by Ultrapar. No shareholder exercised said right.</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Oxiteno S.A. will maintain its regular and independent course of business until the closing of the transaction. The transaction is subject to prior approval by the competition authorities of Brazil, the United States, Mexico and Colombia, in addition to the fulfillment of other conditions precedent to the business, as set out in the sales </font><font style="font-family: 'Times New Roman';">agreement</font><font style="font-family: 'Times New Roman';">. On September 28, 2021, the transaction was approved by the Superintendencia de Industria y Comercio of Colombia, on October 15, 2021, by the Federal Trade Commission &#8211; USA ("FTC")</font><font style="font-family: 'Times New Roman';"> and on January 13, 2022</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">by the </font><font style="font-family: 'Times New Roman';">Comisi&#243;n Federal de Competencia Econ&#243;mica do M&#233;xico (&#8220;COFECE&#8221;)</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">without restrictions. </font><font style="font-family: 'Times New Roman';">Approval in Brazil by the </font><font style="font-family: 'Times New Roman';">Administrative Council for Economic Defense (&#8220;CADE&#8221;) remain</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> pending.</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>30</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Disclosure of</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> the </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">impacts</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> of IFRS 5 (CPC 31) &#8211; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Assets and liabilities</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> held for sale and d</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">iscontinued operations</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The tables of assets </font><font style="font-family: 'Times New Roman';">and liabilities </font><font style="font-family: 'Times New Roman';">held for sale </font><font style="font-family: 'Times New Roman';">and discontinued operation</font><font style="font-family: 'Times New Roman';"> are detailed below </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">include the </font><font style="font-family: 'Times New Roman';">financial</font><font style="font-family: 'Times New Roman';"> position and </font><font style="font-family: 'Times New Roman';">profit or loss</font><font style="font-family: 'Times New Roman';"> incurred throughout 2021 and 2020, when applicable. Eliminations refer to intercompany transactions, substantially represented by purchase and sale transactions, effects on the </font><font style="font-family: 'Times New Roman';">profit or loss</font><font style="font-family: 'Times New Roman';"> of foreign debts contemplating hedging instruments, </font><font style="font-family: 'Times New Roman';">investments in </font><font style="font-family: 'Times New Roman';">associate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">that are not part of the sales transaction</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">among others.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.1</font><font style="font-family: 'Times New Roman';"> The main classes of assets and liabilities classified as held for sale on December 31, 2021 are shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Elimin</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ations</font></font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 53%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Current assets</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 11%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 11%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 11%; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
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<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and cash equivalents</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">334</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">882</font></font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 53</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">099</font></font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 387</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">981</font></font></p>
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<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments and hedging instruments</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">346</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">552</font></font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">346</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">552</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">993</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">960</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 35</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">743</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">029</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">703</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inventories</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">671</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">662</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 578</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">206</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">249</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">868</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 634</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">718</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 62</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">053</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 696</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">771</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">51</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">829</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">145</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">035)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">72</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">939</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">033</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">603</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 755</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">246</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">035)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">783</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">814</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments and hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">492</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">430</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 492</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">430</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">674</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">674)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">541</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">756</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 200</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">194</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 741</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">950</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Recoverable taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 393</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">723</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 17</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">938</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 411</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">661</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">10</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">538</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">136</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">14</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">674</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">438</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">447</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 223</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">942</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">674)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">660</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">715</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 36</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">207</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">000</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (22</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">047)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 19</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">160</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Right-of-use assets, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">31</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">871</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 318</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">183</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 350</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">054</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Property, plant, and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">787</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">241</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">154</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">663</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">941</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">904</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Intangible assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">160</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">141</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">85</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">129</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">245</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">270</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">453</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">907</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 786</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">917</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (23</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">721)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">217</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">103</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Total</font><font style="font-family: 'Times New Roman';"> assets held for sale</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">487</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">510</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">542</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">163</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> (28</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">756)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 11</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">000</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">917</font></font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>31</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Ultrapar<font style="line-height: inherit;">&nbsp;</font>Participa&#231;&#245;es<font style="line-height: inherit;">&nbsp;</font>S.A. and Subsidiaries</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-size: 10pt; line-height: inherit;"><font style="font-family: 'Times New Roman'; line-height: inherit;">Notes to the Parent</font><font style="font-family: 'Times New Roman'; line-height: inherit;">&#8217;s Separate</font><font style="font-family: 'Times New Roman'; line-height: inherit;"><font style="line-height: inherit;">&nbsp;</font>and Consolidated Financial<font style="line-height: inherit;">&nbsp;</font></font><font style="font-family: 'Times New Roman'; line-height: inherit;">Statements</font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">&nbsp;</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;">(In thousands of Brazilian<font style="line-height: inherit;">&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 432px; width: 100%;" width="100%">

<tr style="height: 20px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.84%; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.08%; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7.5pt; font-weight: bold;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7.5pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7.5pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Elim</font><font style="font-family: 'Times New Roman'; font-weight: bold;">inations</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 7.5pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.84%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.68%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.02%; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 10px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans, financing and hedge derivative financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">302</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">154</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(62</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">841)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">239</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">313</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">493,800</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">225</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">487</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">949)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">17,338</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables &#8211; reverse factoring</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">725,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">725,246</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Salaries and related charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">176,941</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">45,843</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">222,784</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Taxes payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">53,988</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,696</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,684</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">415</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">415</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">311</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">311</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">946</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">520</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">466</font></font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 10px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">11</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">702</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">64</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">312</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">76</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">014</font></font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top; width: 46.84%; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">68,721</font><font style="font-family: 'Times New Roman';"> </font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,249</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(13</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">264)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,706</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">851</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">224</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">365</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">107</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(78</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">054)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">138</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">277</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans, financing and hedge derivative financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">728</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">028</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">725</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">594)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">434</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">875</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">875)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">964</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">12</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">964</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">806 </font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">287</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">093</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">33</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">149</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">370</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">35</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">519</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">22</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">786</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">314</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">915</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">337</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">701</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; border-bottom: 1pt solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">341</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1pt solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">092</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1pt solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1pt solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">433</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">811</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">949</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">319</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">664</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">5,728,469</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">403</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">144</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top; width: 46.84%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">824</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">337</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">857</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">392</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,681,729)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 46.84%; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total liabilities held for sale and equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.08%; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">487</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">510</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">542</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">163</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">8,488,252</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1.68%; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12.02%; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,541,421</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>32</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.2</font><font style="font-family: 'Times New Roman';"> The results for the year and cash flows from discontinued operations as of December 31, 2021 are shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 292px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 49%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Elimina</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tions</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">102</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">771</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">986</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">932</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(23</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">908)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">065</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">795</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">540</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">773)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">384</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">316)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">23</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">908</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(6</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">901</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">181)</font></font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">561</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">998</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">602</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">616</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">164</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">614</font></font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (expenses)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling marketing and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(978</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(685</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">794)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">664</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">5)</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Impairment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(427</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">529)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(427</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">529)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">4</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">109)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">8</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">5</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss) before finance income (expenses) and share of profit of associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">610</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">701</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(511</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">816)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">98</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">885</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit of associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">48</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">48</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss) before finance income (expenses) and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">610</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">49</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(511</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">816)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">98</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">933</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial result, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(431</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">441)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(45</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">265)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">329</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">736</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(146</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">970)</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit (loss) before income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">179</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">308</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(557</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">081)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">329</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">36</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(48</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">037)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">69</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">995</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">155</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">416</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(112</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">110)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">113</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">301</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Profit (loss) for the </font><font style="font-family: 'Times New Roman'; font-weight: bold;">year</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">249</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">303</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(401</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">665)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">217</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">26</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">65</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">264</font></font></p>
</td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Deprecia</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tion</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> amortiza</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tion </font><font style="font-family: 'Times New Roman'; font-weight: bold;">for the year</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><sub><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(i)</font></sub></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">308</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">564</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">154</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">850</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">463</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">414</font></font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt;"><sub><font style="font-family: 'Times New Roman'; vertical-align: super;">(i)</font></sub><font style="font-family: 'Times New Roman';"> Balances included for complete </font><font style="font-family: 'Times New Roman';">breakdown</font><font style="font-family: 'Times New Roman';"> of segment information.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 96px;" width="100%">

<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 49%; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 12%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 12%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 12%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Elimina</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tions</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 12%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) operating activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">016</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">580</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(33</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">273)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(788)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">982</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">519</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash used in investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(122</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">363)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(35</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">072)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1,298</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(158,733</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">054</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">930)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">35</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">286</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">466</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">677</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(552</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">967)</font></font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Effect of exchange rate changes on cash and cash equivalents in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">56</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">553</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">56</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">553</font></font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(Decrease) increase in cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(104</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">160)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(33</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">059)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">464,591</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">327,372</font></font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.2.1</font><font style="font-family: 'Times New Roman';"> In the parent company, </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">hare of profit (loss) of </font><font style="font-family: 'Times New Roman';">investees</font><font style="font-family: 'Times New Roman';"> Oxiteno and Extrafarma</font><font style="font-family: 'Times New Roman';">, net of related parties, </font><font style="font-family: 'Times New Roman';">were reclassified as discontinued operations </font><font style="font-family: 'Times New Roman';">in the total amount of R$ 65,264 </font><font style="font-family: 'Times New Roman';">in the statement of profit or loss for the year 2021</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> as per Note</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3.c.2 and </font><font style="font-family: 'Times New Roman';">13.a.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>33</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">3</font><font style="font-family: 'Times New Roman';"> The results for the year and cash flows from discontinued operations as of December 31, 202</font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';"> are shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 378px;" width="100%">

<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">12/</font><font style="font-family: 'Times New Roman'; font-weight: bold;">31/</font><font style="font-family: 'Times New Roman'; font-weight: bold;">202</font><font style="font-family: 'Times New Roman'; font-weight: bold;">0</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Discontinued operations</font></p>
</td>
<td style="vertical-align: top; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">12/</font><font style="font-family: 'Times New Roman'; font-weight: bold;">31/</font><font style="font-family: 'Times New Roman'; font-weight: bold;">2020</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 35%; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Di</font><font style="font-family: 'Times New Roman'; font-weight: bold;">sclosed</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Elimina</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tions</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="vertical-align: top; width: 1%; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">R</font><font style="font-family: 'Times New Roman'; font-weight: bold;">estated</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">81</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">241</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">102</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">210</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">704</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">988</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">411</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(16</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">069)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">7</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">183</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">046</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">74</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">058</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">056</font></font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(75</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">628</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">214)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">188</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">711)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">399</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">125)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">069</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">571</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">767)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(70</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">056</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">447)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">612</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">888</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">021</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">993</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">589</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">286</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">611</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">279</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">001</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">609</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (expenses)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling marketing and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">098</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">377</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(831</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">056)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(662</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">182)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">493</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">238)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">605</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">139)</font></font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">297</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">544</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">153</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">457</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(5</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">403)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">148</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">054</font></font></p>
</td>
<td style="vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">149</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">490</font></font></p>
</td>
</tr>
<tr style="height: 37px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss) before finance income (expenses) and share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">812</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">055</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">344</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">394</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(78</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">299)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom: 1px solid #000000; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">266</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">095</font></font></p>
</td>
<td style="vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">545</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">960</font></font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(43</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">617)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414</font></p>
</td>
<td style="vertical-align: bottom; height: 20px; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(44</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">031)</font></font></p>
</td>
</tr>
<tr style="height: 37px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss) before finance income (expenses) and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">768</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">438</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">344</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">80</font><font style="font-family: 'Times New Roman';">8</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(78</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">299)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 37px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">266</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">509</font></font></p>
</td>
<td style="vertical-align: bottom; height: 37px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 37px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">501</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">929</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial result, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(269</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">374)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">482</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(38</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">938)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">318</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">430</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">280</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">974</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(550</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">348)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit (loss) before income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">499</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">064</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">346</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">90</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(117</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">237)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">318</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">30</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">547</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">483</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">951</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">581</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(571</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">367)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(118</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">13</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(40</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">453)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(108</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">26</font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(266</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">850)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(304</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">517)</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income from continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">647</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">064</font></font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income from discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">280</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">633</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">280</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">633</font></font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Profit (loss) for the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">927</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">697</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">228</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">58</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(157</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">690)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">210</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman';">5</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">280</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">633</font></font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">927</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">697</font></font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Deprecia</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tion</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">and</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> amortiza</font><font style="font-family: 'Times New Roman'; font-weight: bold;">tion</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">for the year</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><sub><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(i)</font></sub></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,556</font><font style="font-family: 'Times New Roman';">,599</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">275</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">063</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">153,899</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">428</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">962</font></font></p>
</td>
<td style="vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 26px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">1,127,637</font></font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(i) Balances included for complete </font><font style="font-family: 'Times New Roman';">breakdown</font><font style="font-family: 'Times New Roman';"> of segment information.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Discontinued operations</font></p>
</td>
<td style="vertical-align: top; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 35%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Di</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">sclosed</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(A)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Elimina</font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">tions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="border-bottom: 1px solid #000000; vertical-align: top; width: 10%; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(B)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; vertical-align: top; width: 1%;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(A-B)</font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash provided by (used in) operating activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">138</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">119</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">765,090</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">111</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">396</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">380)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 2.85pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">874,106</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">,2</font><font style="font-family: 'Times New Roman';">64,013</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash used in investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(2</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">136</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">405)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(159</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">349)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(6</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">484)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(321</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">557)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: bottom;">
<p style="margin: 2pt 2.85pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(487,390)</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">649</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">015)</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net cash (used in) provided by investing activities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(592</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">333)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">236</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">490)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">11</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">272</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">305</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">534</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 2.85pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(919,684)</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">327</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">351</font></font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Effect of exchange rate changes on cash and cash equivalents in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">136</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">734</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">114</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">822</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 2.85pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,822</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; vertical-align: top;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">912</font></font></p>
</td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Increase (decrease) in cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">546</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">115</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(515,927)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">116</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">184</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(18</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">403)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 2.85pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(418,146)</font></p>
</td>
<td style="vertical-align: top; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">964,261</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.3.1</font><font style="font-family: 'Times New Roman';"> In the parent company, </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">hare of profit (loss) of </font><font style="font-family: 'Times New Roman';">investees</font><font style="font-family: 'Times New Roman';"> Oxiteno and Extrafarma</font><font style="font-family: 'Times New Roman';">, net of related parties,</font><font style="font-family: 'Times New Roman';"> were restated as discontinued operations </font><font style="font-family: 'Times New Roman';">in the total amount of R$ </font><font style="font-family: 'Times New Roman';">280</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">633</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in the statement of profit or loss for the year 202</font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> as per Note</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3.c.</font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">13.a.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>34</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">4</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Principles of </font><font style="font-family: 'Times New Roman'; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-weight: bold;">onsolidation</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nvestments in </font><font style="font-family: 'Times New Roman'; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ubsidiaries </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Principles of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">onsolidation</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In the preparation of the consolidated </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';">nvestments of one company in another, balances of asset and liability accounts</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> revenues </font><font style="font-family: 'Times New Roman';">transactions, costs </font><font style="font-family: 'Times New Roman';">and expenses were eliminated, as well as the effects of transactions conducted between the companies. Non-controlling interests in subsidiaries are presented within consolidated equity and net income.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Consolidation of a subsidiary begins when the </font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">arent company obtains direct or indirect control over a </font><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">ompany and ceases when the p</font><font style="font-family: 'Times New Roman';">arent company loses control of a company. Income and expenses of a subsidiary acquired are included in the consolidated </font><font style="font-family: 'Times New Roman';">statement of</font><font style="font-family: 'Times New Roman';"> profit or </font><font style="font-family: 'Times New Roman';">loss and</font><font style="font-family: 'Times New Roman';"> comprehe</font><font style="font-family: 'Times New Roman';">nsive income from the date the p</font><font style="font-family: 'Times New Roman';">arent company gains the control. Income and expenses of a subsidiary</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman';">which </font><font style="font-family: 'Times New Roman';">the p</font><font style="font-family: 'Times New Roman';">arent company loses control,</font><font style="font-family: 'Times New Roman';"> are included in the consolidated </font><font style="font-family: 'Times New Roman';">statement of</font><font style="font-family: 'Times New Roman';"> profit or </font><font style="font-family: 'Times New Roman';">loss and</font><font style="font-family: 'Times New Roman';"> comprehen</font><font style="font-family: 'Times New Roman';">sive income until the date the p</font><font style="font-family: 'Times New Roman';">arent company loses control. </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">When necessary adjustments are made to the </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">subsidiaries to bring their accounting policies into line with the Company&#8217;s accounting policies.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>35</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Investments in </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ubsidiaries</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The consolidated </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">include the following direct and indirect subsidiaries:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 793px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="7" style="vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% interest in the share</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; border-top: 1pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Control</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; border-top: 1pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Control</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px; width: 48%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 17px; width: 10%;">
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<td style="vertical-align: bottom; height: 17px; width: 10%;">
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<td style="vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 7%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Direct</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 7%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Indirect</font></p>
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<td style="vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 1px;">
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<td style="vertical-align: bottom; height: 17px; width: 7%; border-bottom-width: 1px;">
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<td style="vertical-align: bottom; height: 17px; width: 7%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Indirect</font></p>
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<tr style="height: 19px; background-color: #cceeff;">
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
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<td style="vertical-align: bottom; height: 19px;">
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</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga Log&#237;stica Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oil Trading Importadora e Exportadora Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Iconic Lubrificantes S.A. </font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Integra Frotas Ltda. </font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Companhia Ultragaz S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz Comercial Ltda. </font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Nova Paran&#225; Distribuidora de G&#225;s Ltda. </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(1)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 22px;">
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Uting&#225;s Armazenadora S.A.</font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;"> (2)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">57</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">57</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Bahiana Distribuidora de G&#225;s Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LPG International Inc.</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cayman Islands</font></p>
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<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Imaven Im&#243;veis Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Imifarma Produtos Farmac&#234;uticos e Cosm&#233;ticos S.A. </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(3)</font><font style="font-family: 'Times New Roman';"> </font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">UVC Investimentos Ltda.</font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;"> (4)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Centro de Conveni&#234;ncias Millennium Ltda. and subsidiaries</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(5)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(6)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Argentina</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oleoqu&#237;mica Ind&#250;stria e Com&#233;rcio de Produtos Qu&#237;micos Ltda.</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Uruguay</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
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<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno M&#233;xico S.A. de C.V.</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Servicios Corporativos S.A. de C.V.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Servicios Industriales S.A. de C.V.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 28.4pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno USA LLC</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">United States</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Global Petroleum Products Trading Corp.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Virgin Islands</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Europe SPRL</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Belgium</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Colombia S.A.S.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Colombia</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Shanghai LTD.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">China</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Empresa Carioca de Produtos Qu&#237;micos S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo &#8211; Opera&#231;&#245;es Log&#237;sticas e Participa&#231;&#245;es Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica S.A. </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(7)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">TEAS &#8211; Terminal Exportador de &#193;lcool de Santos Ltda.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Tequimar Vila do Conde Log&#237;stica Portu&#225;ria S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar International S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Luxembourg</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">SERMA &#8211; Ass. dos usu&#225;rios equip. proc. de dados</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: middle; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">UVC &#8211; Fundo de investimento em participa&#231;&#245;es multiestrat&#233;gia investimento no exterior </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(8)</font><font style="font-family: 'Times New Roman';"> </font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Ea&#237; Clube Automobilista S.A. </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(9)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Abastece a&#237;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>36</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The percentages in the table above are rounded.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 221px;">

<tr style="height: 17px;">
<td style="width: 4.1657%; height: 17px;"><font style="font-size: 8pt;">(1)</font></td>
<td style="width: 95.8343%; height: 17px;"><font style="font-size: 8pt;">Non-operating company in closing phase.</font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.1657%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
<td style="width: 95.8343%; height: 17px;"><font style="font-size: 8pt;">In October 2020 there was a change in the share capital of the company Uting&#225;s, which became controlled by Companhia Ultragaz S.A. (&#8220;Cia Ultragaz&#8221;).</font></td>
</tr>
<tr style="height: 34px;">
<td style="width: 4.1657%; height: 34px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></td>
<td style="width: 95.8343%; height: 34px;"><font style="font-size: 8pt;">On May 18, 2021 the Company announced the signing of an agreement for the sale of all shares of Extrafarma to Pague Menos. As of December 31, 2021, the Company reclassified the subsidiary's balances to &#8220;assets and liabilities held for sale&#8221;. For more details, see note 3.c.1.</font></td>
</tr>
<tr style="height: 34px;">
<td style="width: 4.1657%; height: 34px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</font></td>
<td style="width: 95.8343%; height: 34px;"><font style="font-size: 8pt;">Subsidiary created in January 2020 to provide valuation, business management and financial advisory services to UVC - Fundo de investimento em participa&#231;&#245;es multiestrat&#233;gia investimento no exterior (&#8220;UVC &#8211; Fundo de investimento&#8221;). In September 2020 the Company&#8217;s name was changed to UVC Investimentos Ltda (&#8220;UVC Investimentos&#8221;).</font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.1657%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</font><br></td>
<td style="width: 95.8343%; height: 17px;"><font style="font-size: 8pt;">In May 2020 there was a change in the participation of the capital of the subsidiary Millennium which became a direct subsidiary of the Company.</font></td>
</tr>
<tr style="height: 34px;">
<td style="width: 4.1657%; height: 34px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(6)</font></td>
<td style="width: 95.8343%; height: 34px;"><font style="font-size: 8pt;">On August 16, 2021, the Company announced the signing of agreement for the sale of its interest in Oxiteno S.A. to Indorama. As of December 31, 2021, the Company reclassified the subsidiary's balances to &#8220;assets and liabilities held for sale&#8221;. For more details, see Note 3.c.1.</font></td>
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<td style="width: 4.1657%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(7)</font><br></td>
<td style="width: 95.8343%; height: 17px;"><font style="font-size: 8pt;">In April 2021 the name of subsidiary Terminal Qu&#237;mico de Aratu S.A &#8211; Tequimar was changed to Ultracargo Log&#237;stica S.A. (&#8220;Ultracargo Log&#237;stica&#8221;).</font></td>
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<tr style="height: 34px;">
<td style="width: 4.1657%; height: 34px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(8)</font><br></td>
<td style="width: 95.8343%; height: 34px;"><font style="font-size: 8pt;">Fund constituted on January 2020, the UVC has the purpose to monetize the resources of its shareholders through investment in promising companies in business segments that are complementary to the Company's businesses, with additional benefits such as of startups and new technologies.</font></td>
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<td style="width: 4.1657%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(9)</font></td>
<td style="width: 95.8343%; height: 17px;"><font style="font-size: 8pt;">Subsidiary created in July 2020, focused on digital payments and electronic retail, uniting the &#8220;abastece a&#237;&#8221; app and the &#8220;Km de Vantagens&#8221; program.</font></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>37</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<h1 style="margin: 0pt 0pt 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">5</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Cash and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ash </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">quivalents</font><font style="font-family: 'Times New Roman'; font-weight: bold;">,</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nvestments</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">h</font><font style="font-family: 'Times New Roman'; font-weight: bold;">edge </font><font style="font-family: 'Times New Roman'; font-weight: bold;">d</font><font style="font-family: 'Times New Roman'; font-weight: bold;">erivative </font><font style="font-family: 'Times New Roman'; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nstruments</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Cash equivalents and financial investments, excluding cash and bank deposits, are substantially represented by investments: (i) in Brazil, in certificates of deposit of financial institutions linked to </font><font style="font-family: 'Times New Roman';">interest rate of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Interbank Deposit</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> Interest Rate</font><font style="font-family: 'Times New Roman';"> (&#8220;DI&#8221;)</font><font style="font-family: 'Times New Roman';">, in </font><font style="font-family: 'Times New Roman';">repurchase agreement</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> financial bills,</font><font style="font-family: 'Times New Roman';"> and in short term investments funds, whose portfolio comprised of Brazilian Federal Government bonds</font><font style="font-family: 'Times New Roman';"> and in certificates of deposit of financial institutions</font><font style="font-family: 'Times New Roman';">; (ii) outside Brazil, in certificates of deposit of financial institutions</font><font style="font-family: 'Times New Roman';"> and in short</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">term investments funds, </font><font style="font-family: 'Times New Roman';">whose portfolio compris</font><font style="font-family: 'Times New Roman';">ed of </font><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">ederal </font><font style="font-family: 'Times New Roman';">G</font><font style="font-family: 'Times New Roman';">overnment </font><font style="font-family: 'Times New Roman';">bond</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">; and (iii) in currency and interest rate hedging instruments.&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The financial assets were classified in Note </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.j</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">based on business model of financial assets</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of the Company and its subsidiaries.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Cash, cash equivalents and financial investments (</font><font style="font-family: 'Times New Roman';">c</font><font style="font-family: 'Times New Roman';">onsolidated) amounted </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">463</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">473</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> (</font><font style="font-family: 'Times New Roman';">R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">8,672,160</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as of December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Cash and cash equivalents</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Cash and cash equivalents </font><font style="font-family: 'Times New Roman';">of the Company and its subsidiaries are </font><font style="font-family: 'Times New Roman';">presented</font><font style="font-family: 'Times New Roman';"> as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and bank deposits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In local currency</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,554</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,419</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">317,907</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">285,306</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,640</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,775</font></p>
</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments considered cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,979</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">939,230</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,561</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,533</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">948,649</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,280,074</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,661,494</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>38</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<h1 style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; 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; margin: 12pt 0pt 0pt; break-after: avoid; break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. Financial investments</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> and</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">urrency and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nterest </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ate </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">h</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">edging </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The financial investments</font><font style="font-family: 'Times New Roman';"> which are not classified as cash and cash equivalents</font><font style="font-family: 'Times New Roman';"> are </font><font style="font-family: 'Times New Roman';">presented</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 49%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88,100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,749,852</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 20pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.75pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,278,940</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Currency and interest rate hedging instruments (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">472,552</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">981,874</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total financial investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88,100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,183,399</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,010,666</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88,100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,804,122</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,033,258</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">379,277</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">977,408</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(a) Accumulated gains, net of income tax (see Note 34.i).</font><font style="font-family: 'Times New Roman';">&nbsp;</font></font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">6</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Trade </font><font style="font-family: 'Times New Roman'; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-weight: bold;">eceivables </font><font style="font-family: 'Times New Roman'; font-weight: bold;">and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-weight: bold;">eseller </font><font style="font-family: 'Times New Roman'; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-weight: bold;">inancing</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">onsolidated)</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. Trade </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">eceivables</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">composition</font><font style="font-family: 'Times New Roman';"> of t</font><font style="font-family: 'Times New Roman';">rade receivables </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 68%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Domestic customers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,805,756</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,443,641</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Domestic customers &#8211; related parties (see Note 9.a.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 57</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 151</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign customers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,137</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 326,442</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign customers &#8211; related parties (see Note 9.a.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,400</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,984</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(-) Loss allowance for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(374,355)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(382,096)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,438,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,391,122</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,375,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,318,927</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 63,749</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 72,195</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>39</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The breakdown of trade receivables, gross</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';">, is as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 78px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Past due</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 18%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">less than 30 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31-60 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">61-90 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">91-180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">more than 180 days</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,813,350</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,131,528</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 90,024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 33,255</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 24,804</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23,903</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 509,836</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,773,218</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,963,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 124,606</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 27,970</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21,389</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 47,169</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 588,921</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The breakdown of </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';">, is as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Past due</font></p>
</td>
</tr>
<tr style="height: 25.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 18%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">less than 30 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31-60 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">61-90 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">91-180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">more than 180 days</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 374,355</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,595</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,049</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,761</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 14,926</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 330,062</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 382,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21,219</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,154</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,751</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,233</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 13,378</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 341,361</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Movements in the allowance for </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 84%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 404,886</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 194,220</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(203,994)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,016)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 382,096</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 177,872</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(150,160)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,646)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,807)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 374,355</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> information about the allowance for </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> see Note </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.d.3.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>40</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<h1 style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; margin: 12pt 0pt 0pt; break-after: avoid; break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Reseller financing</font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The composition of reseller financing is as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 95px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 74%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 74%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller financing &#8211; Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,183,312</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,165,395</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(-) Loss allowance for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(185,278)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(197,011)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">998,034</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">968,384</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">582,562</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">549,129</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">415,472</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">419,255</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The breakdown of </font><font style="font-family: 'Times New Roman';">reseller financing</font><font style="font-family: 'Times New Roman';">, gross of </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';">, is as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Past due</font></p>
</td>
</tr>
<tr style="height: 25.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 18%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">less than 30 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31-60 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">61-90 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">91-180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">more than 180 days</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,183,312</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">770,008</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,260</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,290</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,373</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,685</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">328,696</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,165,395</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">787,904</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,230</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,200</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,989</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">301,835</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The breakdown of </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';">, is as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Past due</font></p>
</td>
</tr>
<tr style="height: 25.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 18%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">less than 30 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31-60 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">61-90 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">91-180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">more than 180 days</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">185,278</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,514</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,410</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,697</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,255</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,892</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">152,510</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197,011</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,872</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">785</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,812</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,397</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,684</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">154,461</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Movements in the allowance for </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 153px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 84%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 15%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 156,006</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 74,745</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(29,791)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,949)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 197,011</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 65,536</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(68,982)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,287)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 185,278</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> information about the allowance for </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> see Note </font><font style="font-family: 'Times New Roman';">34</font><font style="font-family: 'Times New Roman';">.d.3.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>41</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">7</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Inventories</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> (Consolidated)</font></font><br></p>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">The composition of i</font><font style="font-family: 'Times New Roman';">nventories </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 184px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 35%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision for losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Net balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision for losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Net balance</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fuels, lubricants and greases</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,042,932</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,871)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,038,061</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,682,841</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,344)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,677,497</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finished goods</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">646,180</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(22,281)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">623,899</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Work in process</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,450</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,450</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Raw materials</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">293,242</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">293,242</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">568,185</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,827)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">566,358</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liquefied petroleum gas (LPG)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">151,831</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,761)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">146,070</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">110,767</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,761)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,006</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Consumable materials and other items for resale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">117,150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,875)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">115,275</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,559</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,598)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">126,961</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Pharmaceutical, hygiene, and beauty products</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">521,689</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,611)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">519,078</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Purchase for future delivery <font style="font-size: 8pt;"><sup>(1)</sup></font></font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">302,456</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(464)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">301,992</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">198,986</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(464)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">198,522</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Properties for resale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(107)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,132</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(107)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,425</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,931,850</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,078)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,918,772</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,887,189</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(40,993)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,846,196</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt;"><sub><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></sub><font style="font-family: 'Times New Roman';"> Refers </font><font style="font-family: 'Times New Roman';">substantially </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">ethanol, biodiesel</font><font style="font-family: 'Times New Roman';"> and advances for fuel acquisition.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Movements in the provision for losses are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,724</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Addition to net realizable value adjustment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,245</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversal of obsolescence and other losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,976)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,993</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Addition to net realizable value adjustment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,974</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reversal of obsolescence and other losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,184)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28,705)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,078</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The breakdown of provisions for losses related to inventories is shown in the table below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 61px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net realizable value adjustment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,269</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,488</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Obsolescence and other losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,809</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,505</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,078</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,993</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
</div>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;" cellpadding="0">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>42</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">8</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Taxes</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> to </font><font style="font-family: 'Times New Roman'; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ecover</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. Recoverable </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">axes</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> (Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Recoverable taxes are substantially represented by credits of </font><font style="font-family: 'Times New Roman';">Tax on Goods and Services (&#8220;ICMS&#8221;, the Brazilian VAT)</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">Contribution </font><font style="font-family: 'Times New Roman';">for Social Security Financing (</font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">COFINS</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Social Integration</font><font style="font-family: 'Times New Roman';"> Program (</font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">PIS</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">ICMS (a.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 893,206</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,129,325</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">PIS and COFINS (a.2) (a.3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,177,513</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,297,029</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Value-added tax (IVA) of foreign subsidiaries </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 179</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 35,600</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 37,127</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 57,704</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,108,025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,519,658</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,061,227</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,044,850</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,046,798</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,474,808</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">a.1</font><font style="font-family: 'Times New Roman';"> The </font><font style="font-family: 'Times New Roman';">recoverable </font><font style="font-family: 'Times New Roman';">ICMS</font><font style="font-family: 'Times New Roman';"> net of provision for losses</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is substantially related to the following subsidiaries and operations:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 3%; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)&nbsp;</font></td>
<td style="vertical-align: top; width: 97%; padding: 1px 1px 15px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The subsidiaries Oxiteno&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">S.A.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, Empresa Carioca de Produtos Qu&#237;micos S.A. (&#8220;EMCA&#8221;) and Oleoqu&#237;mica Ind&#250;stria e Com&#233;rcio de Produtos Qu&#237;micos Ltda. (&#8220;Oleoqu&#237;mica&#8221;)&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">had&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">credits</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in the amount of R$ R$ 195,037 as of December 31, 2020</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;once&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">predominantly carried out export operations, interstate outflow or deferred ICMS of products purchased within the State of Bahia.&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">As of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;December 31, 2021, the amount of R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">299,727</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;was reclassified to assets held for sale</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td style="vertical-align: top; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="vertical-align: top; padding: 1px 1px 15px;" valign="top"><font style="font-size: 8pt;">The subsidiaries IPP, Bahiana Distribuidora de G&#225;s Ltda. (&#8220;Bahiana&#8221;), Cia. Ultragaz, AMPM and Iconic Lubrificantes S.A. (&#8220;Iconic&#8221;) have credits in the amount of R$ 893,206 (R$ 754,882 as of December 31, 2020) recognized, mainly, of the following nature: a) transactions of inputs and outputs of products subject to taxation of the own ICMS; b) interstate outflows of oil-related products, whose ICMS was prepaid by the supplier (Petr&#243;leo Brasileiro S.A. (&#8220;Petrobras&#8221;)), in the case of the subsidiaries IPP, Bahiana and Cia. Ultragaz and c) credits for refunds of the ICMS-ST (tax substitution) overpaid when the estimated calculation base is used higher than the actual operation practiced by the subsidiary IPP.</font></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)&nbsp;</font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;">The subsidiary Extrafarma had ICMS credits and ICMS-ST (tax substitution) advances in the amount of R$ R$ 179,405 as of December 31, 2020, on the inflow and outflow of operations carried out by its distribution centers, mostly in the North and Northeast, as well as refunds of the ICMS-ST portion overpaid when the estimated calculation base is used higher than the actual operation. As of December 31, 2021, the amount of R$ 19,015, net of provision for impairment of assets, was reclassified to assets held for sale.</font></td>
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</table>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The amounts of recoverable ICMS </font><font style="font-family: 'Times New Roman';">are realized</font><font style="font-family: 'Times New Roman';"> by the </font><font style="font-family: 'Times New Roman';">taxed </font><font style="font-family: 'Times New Roman';">operations itself, being a revolving credit, which means that the credits are monthly offset with the tax payable on sales and new credits are generated by the acquisition of inputs, as well as by the State's refund on tax substitution operations. Management estimates the realization of the credits classified in non-current assets within an average term of up to </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';"> years.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>43</font></font></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The estimated recovery of ICMS assets is stated as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Up to 1 year </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 388,041</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 212,742</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 210,065</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 3 to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 82,358</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total of recoverable ICMS, net of provision</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 893,206</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The provision for ICMS losses, in the amount of R$ </font><font style="font-family: 'Times New Roman';">48,502</font><font style="font-family: 'Times New Roman';"> (R$ 52,338 as of December 31, 2020), relates to tax credits of the subsidiaries whose amounts are not included within the term determined by its policy</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">a.2</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The recoverable PIS and COFINS is substantially related to:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(i) </font><font style="font-family: 'Times New Roman';">The balance of PIS and COFINS </font><font style="font-family: 'Times New Roman';">includes</font><font style="font-family: 'Times New Roman';"> credits recorded under Laws 10,637/2002 and 10,833/2003 in the amount of </font><font style="font-family: 'Times New Roman';">R$ </font><font style="font-family: 'Times New Roman';">607,373</font><font style="font-family: 'Times New Roman';"> (</font><font style="font-family: 'Times New Roman';">R$ 651,051 as of December 31, 2020), whose consumption will occur through the offset of debts administered by the Brazilian Federal Revenue Service (&#8220;RFB&#8221;) in an estimated term of</font><font style="font-family: 'Times New Roman';"> up to</font><font style="font-family: 'Times New Roman';"> 2 years by management.</font><font style="font-family: 'Times New Roman';"> As of </font><font style="font-family: 'Times New Roman';">December 31, 2021, the amount of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">93,108 was reclassified to assets held for sale, as</font><font style="font-family: 'Times New Roman';"> per</font><font style="font-family: 'Times New Roman';"> Note 3.a.</font><font style="font-family: 'Times New Roman';"> </font></font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(ii) </font><font style="font-family: 'Times New Roman';">The subsidiaries </font><font style="font-family: 'Times New Roman';">I</font><font style="font-family: 'Times New Roman';">PP</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">Tropical Transportes Ipiranga Ltda (&#8220;Tropical&#8221;), </font><font style="font-family: 'Times New Roman';">AMPM, Iconic</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">Ultragaz</font><font style="font-family: 'Times New Roman';"> have credits in the amount of R$ </font><font style="font-family: 'Times New Roman';">570,140</font><font style="font-family: 'Times New Roman';"> (R</font><font style="font-family: 'Times New Roman';">$ 645,978 as of December 31, 2020) resulting from a favorab</font><font style="font-family: 'Times New Roman';">le decision on the exclusion of</font><font style="font-family: 'Times New Roman';"> ICMS from the calculation basis of PIS and COFINS (see item a.3 below). </font><font style="font-family: 'Times New Roman';">The</font><font style="font-family: 'Times New Roman';"> management estimates the realization of these credits within up to </font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">years.</font><font style="font-family: 'Times New Roman';"> As of </font><font style="font-family: 'Times New Roman';">December 31, 2021, the amount of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">275</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">813</font><font style="font-family: 'Times New Roman';"> was reclassified to assets held for sale, as</font><font style="font-family: 'Times New Roman';"> per</font><font style="font-family: 'Times New Roman';"> Note 3.</font><font style="font-family: 'Times New Roman';">c.1</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The credit balance of PIS and C</font><font style="font-family: 'Times New Roman';">OFINS</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">realized</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">through the settlement</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">own debts in subsequent months or with other debts managed by the </font><font style="font-family: 'Times New Roman';">Receita Federal</font><font style="font-family: 'Times New Roman';"> and social security for cases that the l</font><font style="font-family: 'Times New Roman';">aw</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">allows</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The estimated recovery of </font><font style="font-family: 'Times New Roman';">PIS and COFINS</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">credits</font><font style="font-family: 'Times New Roman';"> is stated as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 90%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Up to 1 year </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 635,880</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 523,558</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18,075</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total of recoverable PIS and COFINS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,177,513</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">a.3</font><font style="font-family: 'Times New Roman';"> On March 15, 2017, due to general repercussions, the STF decided that ICMS does not compose the basis for calculating PIS and COFINS. </font><font style="font-family: 'Times New Roman';">After filing the Union's Embargoes for Clarification, the STF definitively ruled </font><font style="font-family: 'Times New Roman';">about</font><font style="font-family: 'Times New Roman';"> the thesis on May 13, 2021, reaffirming the exclusion of the </font><font style="font-family: 'Times New Roman';">highlighted</font><font style="font-family: 'Times New Roman';"> ICMS from the PIS and COFINS calculation basis and modulating the effects of the decision for the </font><font style="font-family: 'Times New Roman';">lawsuits</font><font style="font-family: 'Times New Roman';"> filed after March 15, 2017. Certain subsidiaries</font><font style="font-family: 'Times New Roman';"> have credits </font><font style="font-family: 'Times New Roman';">originated</font><font style="font-family: 'Times New Roman';"> from </font><font style="font-family: 'Times New Roman';">favorable </font><font style="font-family: 'Times New Roman';">decisions on the exclusion of ICMS from the PIS and COFINS calculation base, having been the respective subsidies to prove the amounts to be refunded </font><font style="font-family: 'Times New Roman';">properly</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">confirmed by management and recorded in results, up to the present year of 2021, the amount of R$ </font><font style="font-family: 'Times New Roman';">569,212</font><font style="font-family: 'Times New Roman';">, of which R$ </font><font style="font-family: 'Times New Roman';">279,598</font><font style="font-family: 'Times New Roman';"> of principal and R$ </font><font style="font-family: 'Times New Roman';">289,614</font><font style="font-family: 'Times New Roman';"> of monetary variation (R$ </font><font style="font-family: 'Times New Roman';">154</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">225</font><font style="font-family: 'Times New Roman';">, of which R$ </font><font style="font-family: 'Times New Roman';">66</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">415</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of principal and R$ </font><font style="font-family: 'Times New Roman';">87</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">810</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of monetary variation up to 2020</font><font style="font-family: 'Times New Roman';"> &#8211; restated</font><font style="font-family: 'Times New Roman';">).</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">As of December 31, 2021, the amount of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">98,216</font><font style="font-family: 'Times New Roman';"> was reclassified to </font><font style="font-family: 'Times New Roman';">profit (loss) </font><font style="font-family: 'Times New Roman';">from discontinued operations.</font></font></p>
</div>
</div>
<div><br>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>44</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
</div>
</div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;"><br></div>
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Recoverable income tax and social contribution taxes</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Relates to IRPJ and CSLL to be recovered by the Company and its subsidiaries</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> arising from the tax advances of previous </font><font style="font-family: 'Times New Roman';">years</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">as well as referring to lawsuits the non-</font><font style="font-family: 'Times New Roman';">incidence</font><font style="font-family: 'Times New Roman';"> of IRPJ and CSLL on the monetary </font><font style="font-family: 'Times New Roman';">variation</font><font style="font-family: 'Times New Roman';"> (SELIC) in the repetition of undue payments (see note </font><font style="font-family: 'Times New Roman';">10</font><font style="font-family: 'Times New Roman';">.e),</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">with management estimating the realization of these credits within up </font><font style="font-family: 'Times New Roman';">to 5</font><font style="font-family: 'Times New Roman';"> years.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IRPJ and CSLL</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">79,982</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">87,359</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">447,191</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">627,285</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,499</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,913</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">291,833</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">366,080</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,483</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,446</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">155,358</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">261,205</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">9</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Related </font><font style="font-family: 'Times New Roman'; font-weight: bold;">p</font><font style="font-family: 'Times New Roman'; font-weight: bold;">arties</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Related parties</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The balances and transactions </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman';"> the Company and its related parties are disclosed below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a.1 Parent</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 223px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46%; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Debentures</font></p>
</td>
<td style="vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Financial income</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 406,787</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 71,585</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,085</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 21,954</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cia Ultragaz S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 11,060</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6,799</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Imifarma Produtos Farmac&#234;uticos e Cosm&#233;ticos S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,674</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 404</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,787</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo Log&#237;stica S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,798</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ea&#237; Clube Automobilista S.A. </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 200</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">UVC Investimentos Ltda </font></p>
</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">am/pm Comest&#237;veis Ltda.</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 146</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Iconic Lubrificantes S/A</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 11</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">SERMA - Ass. dos usu&#225;rios equip. proc. de dados</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 293</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 322</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 406,787</font></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 96,926</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,674</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,613</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21,954</font></p>
</td>
</tr>

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<p><br></p>
</div>
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<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>45</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
</div>
</div>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 210px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
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<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Debentures</font></p>
</td>
<td style="vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Other receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Related parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Other payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Financial income</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">753</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">459 </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(2)</font></font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 15,545</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">23</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">812 </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(2)</font></font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cia Ultragaz S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 10,147</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,469</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">SERMA - Ass. dos usu&#225;rios equip. proc. de dados</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 9,635</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Imifarma Produtos Farmac&#234;uticos e Cosm&#233;ticos S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,785</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,272</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 142</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,476</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 548</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Centro de Conveni&#234;ncias Millennium Ltda.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,700</font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo Log&#237;stica S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,695</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 277</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Bahiana Distribuidora de G&#225;s Ltda.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 831</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">UVC Investimentos Ltda </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 69</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ea&#237; Clube Automobilista S.A. </font></p>
</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 35</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">am/pm Comest&#237;veis Ltda.</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 13</font></p>
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<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 753,459</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 49,896</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,272</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 9,471</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23,812</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: super;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 3%; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)&nbsp;</font></td>
<td style="vertical-align: top; width: 97%; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In March 2021 the subsidiary IPP made &#8203;&#8203;its nineth private offering in one single series of 400,000 debentures at face value of R$ 1,000.00 (thousand Brazilian Reais) each, nonconvertible into shares, unsecured, with maturity on March 31, 2024 and semiannual interest linked to DI being subscribed the total by the Company.</font></td>
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<tr>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font></font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In March 2016 the subsidiary IPP made&nbsp;&#8203;&#8203;its&nbsp;second private offering in one single series of 75 debentures at face value of R$ 10,000,000.00 (ten million Brazilian&nbsp;Reais) each, nonconvertible into shares and unsecured, with maturity on March 31, 2021 and semiannual interest linked to DI being subscribed the total by the Company.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;The debentures were paid off on the maturity date.</font></font></td>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>46</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
</div>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a.2 Consolidated</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balances and transactions between the Company and its subsidiaries have been eliminated in consolidation and are not disclosed in this note. The balances and transactions between the Company and its subsidiaries with other related parties are disclosed below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Loans</font></p>
</td>
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<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A. </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,875</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Others </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">490</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">659</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">490</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,534</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Loans</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A. </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,875</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Routeasy Servi&#231;os de Assessoria Log&#237;stica Ltda. </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(2)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,334</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Others </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">490</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">836</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,824</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,711</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 3%; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
<td style="vertical-align: top; width: 97%; padding: 1px 1px 15px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Loans contracted have indefinite terms and do not contain remuneration clauses.</font></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The loan contracted ha</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;a term of 36 months</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;can be extended by mutual agreement between the parties</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;being remunerated by the DI plus 3% p.a.</font></font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</div>
</div>
</div>
<div>
<div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>47</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
</div>
</div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 5.3pt; font-family: 'times new roman'; font-size: 10pt; height: 215px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Commercial transactions</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Purchases</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Refinaria de Petr&#243;leo Riograndense S.A. </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 90,761</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 619,785</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Uni&#227;o Vopak Armaz&#233;ns Gerais Ltda.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 57</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron (Thailand) Limited</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 204</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 675</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,072</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Lubricants Lanka PLC</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Lubricants Oils S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 319</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 786</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Marine Products</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,663</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 24,583</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Oronite Brasil LTDA.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 53,378</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 78</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 150,878</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Products Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 158,557</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 789,452</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Belgium NV</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 821</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,520</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Chevron Petroleum CO Colombia</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';"> </font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 214</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,457</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 303,517</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 28,080</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,568,707</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</div>
</div>
<div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>48</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
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<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
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</div>
</div>
</div>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 5.3pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 276px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="13" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Commercial transactions</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 24%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Right-of-use assets </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Leases payable </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Purchases</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Expenses</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxicap Ind&#250;stria de Gases Ltda.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,772</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 471</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 19,077</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 65,215</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 314,587</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">ConectCar Solu&#231;&#245;es de Mobilidade Eletr&#244;nica S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 151</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 104</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,062</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 154</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LA&#8217;7 Participa&#231;&#245;es e Empreend. Imob. Ltda. (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,635</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,044</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,613</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron (Thailand) Limited</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 166</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 759</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Brasil Oleos Basicos LTDA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Latin America Marketing LLC</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 118</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Lubricants Lanka PLC</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Lubricants Oils S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 823</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Marine Products</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,873</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Oronite Brasil LTDA.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 37,482</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 108,198</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Products Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 87,754</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 247,578</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Belgium NV</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 785</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6,707</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chevron Petroleum CO Colombia</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,135</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,635</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 193,124</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,044</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,533</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 697,060</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,613</font></p>
</td>
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</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-size: 8pt;"><sub><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></sub><font style="font-family: 'Times New Roman';">&nbsp; &nbsp;Included in &#8220;</font><font style="font-family: 'Times New Roman';">right-of-use assets</font><font style="font-family: 'Times New Roman';">&#8221; and &#8220;</font><font style="font-family: 'Times New Roman';">leases payable</font><font style="font-family: 'Times New Roman';">&#8221;, respectively.</font></font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(a) Refers to rental contracts of 15 drugstores owned by LA&#8217;7 as of December 31, 2020, a company of the former shareholders of Extrafarma that are current shareholders of Ultrapar.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Purchase and sale transactions relate substantially to the purchase of raw materials, feedstock, transportation</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and storage services based on </font><font style="font-family: 'Times New Roman';">similar</font><font style="font-family: 'Times New Roman';"> market prices and terms with customers and suppliers with comparable operational performance. The operations </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman';"> ConectCar</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">refer to </font><font style="font-family: 'Times New Roman';">services</font><font style="font-family: 'Times New Roman';"> provided</font><font style="font-family: 'Times New Roman';">. In the opinion of the Company and its subsidiaries&#8217; management, transactions with related parties are not subject to credit risk, </font><font style="font-family: 'Times New Roman';">therefore, no provision for expected losses on accounts rece</font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';">vable or guarantees are recorded</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">Guarantees</font><font style="font-family: 'Times New Roman';"> provided by the Company in loans of subsidiaries and affiliates are mentioned in Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>49</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
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<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
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<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Key executives (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company&#8217;s compensation strategy combines short and long-term elements, following the principles of alignment of interests and of </font><font style="font-family: 'Times New Roman';">maintaining</font><font style="font-family: 'Times New Roman';"> a competitive compensation, and is aimed at retaining key officers and remunerating them adequately according to their attributed responsibilities and the value created to the Company and its shareholders.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Short-term compensation is comprised of: (a) fixed monthly compensation paid with the objective of rewarding the executive&#8217;s experience, responsibility</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and his/her position&#8217;s complexity, and includes salary and benefits such as medical coverage, check-up, life insurance</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and others; (b) variable compensation paid annually with the objective of aligning the executive&#8217;s and the Company&#8217;s objectives, which is linked to: (i) the business performance measured through its economic value creation and (ii) the fulfillment of individual annual goals that are based on the strategic plan and are focused on expansion and operational excellence projects, people development and market positioning, among others. </font><font style="font-family: 'Times New Roman';">More</font><font style="font-family: 'Times New Roman';"> details about the Deferred Stock Plan are contained in Note </font><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">.c and about post</font><font style="font-family: 'Times New Roman';">-</font><font style="font-family: 'Times New Roman';">employment benefits in Note </font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">.b.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he expenses for compensation of its key executives (Company&#8217;s directors and executive officers)</font><font style="font-family: 'Times New Roman';"> as shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 93px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Short-term compensation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,003</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,936</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Stock compensation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,778</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,786</font></p>
</td>
</tr>
<tr style="height: 14px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,737</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,866</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 79%;">Termination benefits</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; text-align: right; width: 10%;">5,637</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10%; text-align: right;">-</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">71,155</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55,588</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">c. Deferred stock plan (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Since 2003</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Ultrapar has adopted a </font><font style="font-family: 'Times New Roman';">stock</font><font style="font-family: 'Times New Roman';"> plan in which the executive h</font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman';"> the usufruct of shares held in treasury</font><font style="font-family: 'Times New Roman';"> until</font><font style="font-family: 'Times New Roman';"> the transfer of the </font><font style="font-family: 'Times New Roman';">full </font><font style="font-family: 'Times New Roman';">ownership of the shares to those eligible members of management after five to seven years from the initial concession of the rights subject to uninterrupted employment of the participant during the period</font><font style="font-family: 'Times New Roman';">. The volume of shares and the executives </font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';">ligible</font><font style="font-family: 'Times New Roman';"> are determined by the Board of Directors, and there is no mandatory annual grant. The total number of shares to be used in the plan is subject to the </font><font style="font-family: 'Times New Roman';">number</font><font style="font-family: 'Times New Roman';"> of shares in treasury. Ultrapar&#8217;s Board of Directors </font><font style="font-family: 'Times New Roman';">members are </font><font style="font-family: 'Times New Roman';">not </font><font style="font-family: 'Times New Roman';">eligible</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">participate in </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">stock</font><font style="font-family: 'Times New Roman';"> plan.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The fair value of the awards </font><font style="font-family: 'Times New Roman';">was</font><font style="font-family: 'Times New Roman';"> determined on the grant date based on the market value of the shares on the </font><font style="font-family: 'Times New Roman';">B3</font><font style="font-family: 'Times New Roman';">, the Brazilian Securities, Commodities and Futures Exchange</font><font style="font-family: 'Times New Roman';"> and the amounts are amortized </font><font style="font-family: 'Times New Roman';">between</font><font style="font-family: 'Times New Roman';"> five </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">seven</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">years from the </font><font style="font-family: 'Times New Roman';">grant date</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<div>
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>50</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
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<div><br></div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below summarizes shares </font><font style="font-family: 'Times New Roman';">granted </font><font style="font-family: 'Times New Roman';">to the Company and its subsidiaries&#8217; management:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 79px;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 38%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Grant date</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance of number of shares granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Vesting period</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Market price of shares on the grant date (in R$ per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total grant costs, including taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accumulated recognized grant costs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accumulated unrecognized grant costs</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">March 4, 2016</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 133,332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022 to 2023 </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 32.72</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 9,025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,440)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 585</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">December 10, 2014</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 25.32</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 19,557</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,557)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">March 5, 2014</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 26.08</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,999</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,999)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-&nbsp; </font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 133,332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34,581</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(33,996)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 585</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">or </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021</font><font style="font-family: 'Times New Roman';"> t</font><font style="font-family: 'Times New Roman';">he amortization in the amount </font><font style="font-family: 'Times New Roman';">of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">1,902</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">reversal of </font><font style="font-family: 'Times New Roman';">R$ </font><font style="font-family: 'Times New Roman';">64</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">or </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December </font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';">, 2020</font><font style="font-family: 'Times New Roman';"> &#8211; restated</font><font style="font-family: 'Times New Roman';">) was recognized as a general and administrative expense.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below summarizes the changes of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">number of shares granted:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 89%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,224,524</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cancellation of granted shares due to termination of executive employment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(200,000)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares vested and transferred</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(322,264)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">702,260</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares vested and transferred</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(448,930)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(119,998)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,332</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In addition, </font><font style="font-family: 'Times New Roman';">on April 19, 2017, </font><font style="font-family: 'Times New Roman';">the Ordinary and Extraordinary General Shareholders&#8217; Meeting (&#8220;OEGM&#8221;) of </font><font style="font-family: 'Times New Roman';">approved</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">a new incentive plan</font><font style="font-family: 'Times New Roman';"> based on shares </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">Plan</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';">), which establishes the general terms and conditions for the concession of common shares issued by the Company </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">held in treasury, </font><font style="font-family: 'Times New Roman';">that</font><font style="font-family: 'Times New Roman';"> may or may not involve the granting of usufruct of part of these shares for later transfer of the </font><font style="font-family: 'Times New Roman';">ownership of the shares</font><font style="font-family: 'Times New Roman';">, in periods of </font><font style="font-family: 'Times New Roman';">three</font><font style="font-family: 'Times New Roman';"> to </font><font style="font-family: 'Times New Roman';">six</font><font style="font-family: 'Times New Roman';"> years</font><font style="font-family: 'Times New Roman';">, to directors or employees of the Company or </font><font style="font-family: 'Times New Roman';">its </font><font style="font-family: 'Times New Roman';">subsidiaries.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">As a result of the Plan, </font><font style="font-family: 'Times New Roman';">common</font><font style="font-family: 'Times New Roman';"> shares representing at most 1% of the Company's </font><font style="font-family: 'Times New Roman';">share </font><font style="font-family: 'Times New Roman';">capital</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">may be delivered to the </font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">articipants, which corresponds, at the date of approval of </font><font style="font-family: 'Times New Roman';">this</font><font style="font-family: 'Times New Roman';"> Plan, to </font><font style="font-family: 'Times New Roman';">11,128,102</font><font style="font-family: 'Times New Roman';"> common shares.</font></font></p>
</div>
<br>
<div>
<div><br></div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>51</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table </font><font style="font-family: 'Times New Roman';">below</font><font style="font-family: 'Times New Roman';"> summarizes the </font><font style="font-family: 'Times New Roman';">r</font><font style="font-family: 'Times New Roman';">estricted and </font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">erformance</font><font style="font-family: 'Times New Roman';"> stock</font><font style="font-family: 'Times New Roman';"> programs:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.7551%; height: 283px;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Program</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Grant date</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance of number of shares granted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Vesting period</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Market price of shares on the grant date (in R$ per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total grant costs, including taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accumulated recognized grant costs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accumulated unrecognized grant costs</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 24%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">October 1, 2017</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 240,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 38.19</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 9,293</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,293)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">November 8, 2017</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,596</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 38.19</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(994)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 24</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 4, 2018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 31,220</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022 to 2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34.35</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,013</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,902)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 111</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Performance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 4, 2018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,550</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022 to 2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34.35</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 356</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(267)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 89</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">September 19, 2018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 80,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 19.58</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,020)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">September 24, 2018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 80,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18.40</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,170</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,250)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,920</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 3, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 176,184</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022 to 2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23.25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,004</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,479)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,525</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Performance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 3, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">83,412</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022 to 2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23.25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,587</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,212)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,375</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">September 2, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">440,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 16.42</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;">9,965</p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,875)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font>6,090</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 1, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 290,082</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2023 to 2025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 12.53</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,668</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,135)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,533</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Performance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 1, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 238,188</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2023 to 2025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 12.53</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,494</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,960)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,534</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">September 16, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 700,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2026</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23.03</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 13,259</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,847)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,412</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 7, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 522,716</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 20.85</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 17,985</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,141)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 12,844</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Performance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">April 7, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 522,716</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 20.85</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 17,985</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,141)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 12,844</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Restricted</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">September 22, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,000,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2027</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 14.17</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 19,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,087)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18,460</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,415,294</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 118,364</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(50,603)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 67,761</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">F</font><font style="font-family: 'Times New Roman';">or the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, a general and administrative expense </font><font style="font-family: 'Times New Roman';">in the amount of</font><font style="font-family: 'Times New Roman';"> R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">24,067</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">was recognized in relation to the Plan</font><font style="font-family: 'Times New Roman';"> (R$ </font><font style="font-family: 'Times New Roman';">10</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">440</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">or the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';"> &#8211; restated</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 89%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,738,660</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares granted on April 1, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">877,788</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares granted on September 16, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">700,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cancellation of granted shares due to termination of executive employment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(353,294)</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cancellation of performance shares</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(52,992)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,910,162</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares granted on April 7, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,386,504</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shares granted on September 22, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,000,000</font></p>
</td>
</tr>
<tr style="height: 16.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Performance shares </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(i)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(133,326)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cancellation of granted shares due to termination of executive employment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(133,186)</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(614,860)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance on December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,415,294</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 3%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="vertical-align: top; width: 97%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the reversal of the provision constituted in view of the significant probability that performance indicators will not be achieved.</font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><br></p>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>52</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><font style="font-size: 10pt;"><a href="#TOC">Table of Contents</a></font></div>
</div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
</div>
</div>
<p><font style="font-style: italic;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-weight: bold;">10</font><font style="font-weight: bold;">. Income and </font><font style="font-weight: bold;">s</font><font style="font-weight: bold;">ocial </font><font style="font-weight: bold;">c</font><font style="font-weight: bold;">ontribution </font><font style="font-weight: bold;">t</font><font style="font-weight: bold;">axes</font></font><br></p>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Deferred income (IRPJ) and social contribution taxes (CSLL)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries recognize </font><font style="font-family: 'Times New Roman';">deferred tax assets and liabilities</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> which are not subject to </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">statute of limitations, mainly resulting from </font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">rovision for differences between cash and accrual basis</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">tax loss carryforwards</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">negative tax bases</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and provisions for tax, civil, and labor risks</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Deferred tax assets </font><font style="font-family: 'Times New Roman';">are sustained by the continued profitability of their operations. Deferred IRPJ and CSLL are recognized under the following main categories:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 84px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 49%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets - deferred income and social contribution taxes on:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for impairment of assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">57,924</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,231</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provisions for tax, civil, and labor risks</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">188,236</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">138,516</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for post-employment benefits </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">760</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,078</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,335</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">96,108</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for differences between cash and accrual basis (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,754</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">606,054</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,825</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,161</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Business combination &#8211; tax basis vs. accounting basis of goodwill</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,699</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,515</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for asset retirement obligation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,991</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,728</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,354</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,284</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,364</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,501</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for profit sharing and bonus</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,541</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,445</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,876</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">56,873</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,264</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">976</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,932</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Change in fair value of subscription warrants</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,957</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,833</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,957</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,833</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for deferred revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,643</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,770</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other provisions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">85</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">95</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,769</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,917</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Tax losses and negative basis for social contribution carryforwards (10.d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,441</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,730</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">148,345</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">363,862</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,441</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">688,181</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,588,001</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Offset liability balance of deferred IRPJ and CSLL</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;"><br></td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(448)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(116,426)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(613,290)</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net balance of deferred taxes assets</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,993</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">571,755</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">974,711</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities - deferred income and social contribution taxes on:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Revaluation of PP&amp;E</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">408</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,776</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">138</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,895</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for differences between cash and accrual basis (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">448</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,664</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">402,780</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for goodwill</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,676</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">92,242</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Business combination &#8211; fair value of assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">66,079</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">111,832</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other provisions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,743</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,497</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">448</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">116,708</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">626,022</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Offset asset balance of deferred IRPJ and CSLL</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(448)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(116,426)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(613,290)</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net balance of deferred taxes liabilities</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">282</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,732</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify; padding-left: 30px;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(i)&nbsp; Refers, mainly, to the income tax on the exchange variation of the </font><font style="font-family: 'Times New Roman';">derivate </font><font style="font-family: 'Times New Roman';">hedging instruments.</font></font></p>
</div>
</div>
</div>
</div>
</div>
</div>
<div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>53</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<p style="margin: 2pt 0px 0pt; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff;">
<div style="clear: both;">
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<div style="margin: 0pt 0px; text-align: justify; font-size: 11pt;"><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notes to the Parent</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;s Separate</font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="color: #000000; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements</font></div>
<p style="margin: 0pt 0px; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman'; font-size: 5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0px; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
</div>
</div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;"><font style="font-size: 10pt;"><font style="font-weight: bold;"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;"><font style="font-size: 10pt; text-align: justify; font-family: 'Times New Roman';">Changes in </font><font style="font-size: 10pt; text-align: justify; font-family: 'Times New Roman';">the net balance of </font><font style="font-size: 10pt; text-align: justify; font-family: 'Times New Roman';">deferred IRPJ and CSLL are as follows:</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 44px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 49%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Initial balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,993</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,613</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">961,979</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">646,163</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred IRPJ and CSLL recognized in income of the year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,693</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">234,244</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred IRPJ and CSLL of subsidiaries classified as discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">110,821</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(146,305)</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred IRPJ and CSLL recognized in other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(284)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(80)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,366)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">210,034</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(728,986)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">214</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,221)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; margin-left: 0.1px; height: 0px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,843</font></p>
</td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Final balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,993</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">571,473</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; margin-left: 0.1px; height: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">961,979</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The estimated recovery of the deferred tax asset of IRPJ and CSLL is shown as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 75%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Up to 1 year</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">59,516</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">324,216</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,666</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,760</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,628</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,853</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 3 to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,143</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">128,144</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 5 to 7 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,698</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,569</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 7 to 10 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,751</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">81,639</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total of deferred tax assets relating to IRPJ and CSLL</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">688,181</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In order to evaluate the realization of</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">deferred tax assets, the taxable income projections from</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">business plans of each segment of the Company</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">which indicates trends and perspectives, demand effects, competition and other economic factors</font><font style="font-family: 'Times New Roman';">, and</font><font style="font-family: 'Times New Roman';"> that represent the management&#8217;s best estimate about the economic conditions existing during the period of realization of the deferred tax asset were taken into account.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The main key assumptions used to calculate the realization of deferred tax assets are: growth in Gross Domestic Product (&#8220;GDP&#8221;), exchange rate, basic interest rate (SELIC) and DI, inflation rate, commodity price index, among others. The</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">balance</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">Company and its subsidiaries of </font><font style="font-family: 'Times New Roman';">R$ </font><font style="font-family: 'Times New Roman';">688,181</font><font style="font-family: 'Times New Roman';"> and parent of R$ </font><font style="font-family: 'Times New Roman';">72,402</font><font style="font-family: 'Times New Roman';"> w</font><font style="font-family: 'Times New Roman';">ere</font><font style="font-family: 'Times New Roman';"> supported by the technical study on taxable profit projections for the realization of deferred tax assets.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
</div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>54</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div><br></div>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Reconciliation of income and social contribution taxes</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IRPJ and CSLL are reconciled to the statutory tax rates as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 292px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated (i)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 49%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income before taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">774,484</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">593,803</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,006,648</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">951,581</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Statutory tax rates &#8211; %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes at the statutory tax rates</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(263,325)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(201,893)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(342,260)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(323,538)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Adjustments to the statutory income and social contribution taxes:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><br></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nondeductible expenses (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12,376)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,013)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(45,569)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(33,420)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nontaxable revenues (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,571</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,757</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Monetary variation (SELIC) on repetition of tax undue payments (iv)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,544</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">136,060</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Adjustment to estimated income (v)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,901</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,850</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Unrecorded deferred income and social contribution taxes carryforwards deferred (vi)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,285)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,166)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">281,851</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">227,776</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,995)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,972)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">77</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,414</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,911</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes before tax incentives</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,715</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,947</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(235,163)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(350,578)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Tax incentives - SUDENE</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,129</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">46,061</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes in the income statement</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,715</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,947</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(188,034)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(304,517)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,299)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(430,280)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(538,761)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,693</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">234,244</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Effective IRPJ and CSLL rates &#8211; %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1.4)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18.7</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32.0</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 1%;"><br></td>
<td style="vertical-align: top; width: 3%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="vertical-align: top; width: 96%;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For more information on the restatement, see note 3.c.1.</font></font></td>
</tr>
<tr>
<td style="vertical-align: top; width: 1%;"><br></td>
<td style="vertical-align: top; width: 3%;"><font style="font-size: 8pt;">(ii)</font></td>
<td style="vertical-align: top; width: 96%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">C</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">onsist&nbsp;of certain expenses that cannot be deducted for tax purposes under applicable tax legislation, such as expenses with fines, donations, gifts, losses of assets</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">negative effects of foreign subsidiaries&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">and certain provisions</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: -18.9333px; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td style="vertical-align: top;"><br></td>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">C</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">onsist&nbsp;of certain gains and income that are not taxable under applicable tax legislation, such as the reimbursement of taxes and the reversal of certain provisions</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td style="vertical-align: top;"><br></td>
<td style="vertical-align: top;"><font style="font-size: 8pt;">(iv)</font></td>
<td style="vertical-align: top;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to amounts related to non-taxation of IRPJ/CSLL on monetary variation (SELIC) in the repetition of undue tax lawsuits (see note 10.e).</font></td>
</tr>
<tr>
<td style="vertical-align: top;"><br></td>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Brazilian tax law allows for an alternative method of taxation for companies that generated gross revenues of up to R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">7</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8 million in their previous fiscal year. Certain subsidiaries of the Company adopted this alternative form of taxation, whereby income and social contribution taxes are calculated on a basis equal to 32% of operating revenues, as opposed to being calculated based on the effective taxable income of these subsidiaries. The&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">adjustment to estimated income represents the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">difference between the taxation under this alternative method and the income and social contribution taxes that would have been pa</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">id</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;based on the effective statutory rate applied to the taxable income of these subsidiaries</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td style="vertical-align: top;"><br></td>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vi)</font></td>
<td style="vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">See Note 10.d</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>55</font></font></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c. Tax </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ncentives &#8211; SUDENE</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For belonging to the sectors of the economy considered priority for the subsidized areas, under the terms of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">development </font><font style="font-family: 'Times New Roman';">program </font><font style="font-family: 'Times New Roman';">of region </font><font style="font-family: 'Times New Roman';">operated by the </font><font style="font-family: 'Times New Roman';">Superintendence</font><font style="font-family: 'Times New Roman';"> for the Development of the Northeast (&#8220;SUDENE&#8221;)</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">the following subsidiaries</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> in compliance with the current law </font><font style="font-family: 'Times New Roman';">have</font><font style="font-family: 'Times New Roman';"> entitled to federal tax benefits providing for IRPJ reduction under</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="vertical-align: bottom; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subsidiary</font></p>
</td>
<td style="vertical-align: bottom; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Units</font></p>
</td>
<td style="vertical-align: bottom; text-align: center; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Incentive - %</font></p>
</td>
<td style="vertical-align: bottom; text-align: center; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Expiration</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Bahiana Distribuidora de G&#225;s Ltda.</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mataripe base</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2024</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: bottom; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Caucaia base</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2025</font></p>
</td>
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<td style="vertical-align: bottom; background-color: #cceeff; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Juazeiro base</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2026</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: bottom; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Aracaju base</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2027</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 36.6312%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Suape base</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2027</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: bottom; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo Log&#237;stica S.A.</font></p>
</td>
<td style="vertical-align: bottom; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; width: 36.6312%;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Suape terminal</font><font style="font-family: 'Times New Roman';"> </font><sup><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></sup></font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2030</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; width: 36.6312%;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Aratu terminal</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: bottom; width: 39.2478%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; width: 36.6312%;">
<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Itaqui terminal</font><font style="font-family: 'Times New Roman';"> </font><sup><font style="font-family: 'Times New Roman'; vertical-align: super;">(2)</font></sup></font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75</font></p>
</td>
<td style="vertical-align: bottom; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">30</font></font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 0.918239%; vertical-align: top;"><br></td>
<td style="width: 2.06295%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97.0188%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">On August 18, 2021, S</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">UDENE</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;issued the report&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">recognizing</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;the renewal of the benefit, which was&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">homologated</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;by the SRF on October 5, 2021, with the respective benefit being retroactive to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">January 2021.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The report recognizing the renewal of the benefit for fruition runs until December 31, 2030.</font></font></td>
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<td style="width: 0.918239%; vertical-align: top;"><br></td>
<td style="width: 2.06295%; vertical-align: top;"><br></td>
<td style="width: 97.0188%; vertical-align: top;"><br></td>
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<tr>
<td style="vertical-align: top; width: 0.918239%;"><br></td>
<td style="vertical-align: top; width: 2.06295%;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="vertical-align: top; width: 97.0188%;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">On December</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;22</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2021, SUDENE</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;issued t</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">he</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;report&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">recognizing t</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">he&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">benefit renewal&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">fruition until December 31, 2030</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;The request</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">was</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;submitted to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Receita&nbsp;Federal</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">approved in January 2022, retroactive to January 1, 2021</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">On December 31, 2021, the IRPJ reduction benefit, granted by the claims in force to the subsidiaries Oxiteno S.A., Oleoqu&#237;mica and EMCA, were reclassified to assets held for sale, see note 3.c.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">d. Income and social contribution taxes carryforwards</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">As of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the Company and </font><font style="font-family: 'Times New Roman';">some</font><font style="font-family: 'Times New Roman';"> subsidiaries ha</font><font style="font-family: 'Times New Roman';">d</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">tax </font><font style="font-family: 'Times New Roman';">loss carryforwards </font><font style="font-family: 'Times New Roman';">related to </font><font style="font-family: 'Times New Roman';">income tax</font><font style="font-family: 'Times New Roman';"> (IRPJ)</font><font style="font-family: 'Times New Roman';"> and negative basis of CSLL</font><font style="font-family: 'Times New Roman';">, whose compensations are limited to 30% of taxable income</font><font style="font-family: 'Times New Roman';"> in a given tax </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';">, which do not expire.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>56</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The balances which are constituted of deferred taxes related to income tax loss carryforwards and negative basis of social contribution base are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oil Trading</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">53,839</font></p>
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<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,441</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,736</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Abastece a&#237;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,362</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Tequimar Vila do conde</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,861</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">489</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">107</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno S.A. (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">205,604</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,537</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Iconic</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,691</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarna (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,318</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">UVC Investimentos</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">148,345</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">363,862</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 68px;">

<tr style="height: 17px;">
<td style="width: 2%; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 98%; vertical-align: top; height: 17px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considers the amount of R$ 8,510 of deferred taxes recognized on the tax loss of subsidiary Ultrapar International as of December 31, 2021 (R$ 7,659 as of December 31, 2020).</font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 2%; vertical-align: top; height: 17px;" valign="top"><br></td>
<td style="width: 98%; vertical-align: top; height: 17px;" valign="top"><br></td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: top; height: 34px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="vertical-align: top; height: 34px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">As&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;December 31, 2021, the amounts of R$ 247,912 and R$ 72,318, referring to the balances constituted on deferred charges related to IRPJ tax losses and negative CSLL bases for the subsidiaries&nbsp;Oxiteno&nbsp;S</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">A</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and&nbsp;Extrafarma, respectively, were reclassified to assets held for sale.</font></font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">balances which are not constituted</font><font style="font-family: 'Times New Roman';"> of deferred </font><font style="font-family: 'Times New Roman';">taxes related to </font><font style="font-family: 'Times New Roman';">income </font><font style="font-family: 'Times New Roman';">tax loss carryforwards </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">negative basis of </font><font style="font-family: 'Times New Roman';">social contribution </font><font style="font-family: 'Times New Roman';">base </font><font style="font-family: 'Times New Roman';">are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 75%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">312,521</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">294,400</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Integra Frotas</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,769</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,802</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Millennium</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,174</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">640</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">327,464</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">302,842</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 1pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Non-incidence of IRPJ/CSLL on the update by Selic of tax undue payments received from the Federal Government</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries have lawsuits claiming the non-incidence of IRPJ and CSLL on monetary variation (SELIC) on tax credits. On September 27, 2021, the Federal Supreme Court judged that the incidence of IRPJ and CSLL on amounts related to monetary variation (SELIC) received by taxpayers in the repetition of tax undue payments is unconstitutional. </font><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he Company </font><font style="font-family: 'Times New Roman';">and its </font><font style="font-family: 'Times New Roman';">subsidiaries recognized R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">106</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">667</font><font style="font-family: 'Times New Roman';"> related to this </font><font style="font-family: 'Times New Roman';">topic</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">On December 31, 2021, the amount of R$</font><font style="font-family: 'Times New Roman';">&nbsp;74</font><font style="font-family: 'Times New Roman';">,243 related to the subsidiaries Extrafarma, Oxiteno S.A., Oleoqu&#237;mica and EMCA, was reclassified to assets held for sale.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>57</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">11</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Prepaid </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">xpenses</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 233px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 49%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Rents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">54,327</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30,400</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advertising and publicity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,410</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,752</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Deferred stock plan, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,828</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,970</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,399</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,900</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Insurance premiums</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,351</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">971</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,917</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">58,675</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software maintenance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,522</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,105</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,863</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,233</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Employee benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">595</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">526</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,362</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,924</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IPVA and IPTU</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,553</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,632</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Contribution - private pension fund (see Note 21.a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,831</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,068</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other prepaid expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,730</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,045</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,572</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">169,392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">202,629</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,548</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,684</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">98,024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">132,122</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,748</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,888</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">71,368</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">70,507</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">12</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Contractual </font><font style="font-family: 'Times New Roman'; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ssets with </font><font style="font-family: 'Times New Roman'; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ustomers &#8211; </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">xclusive </font><font style="font-family: 'Times New Roman'; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ights (Consolidated)</font></font></p>
<p><font style="font-size: 5px;"><font style="font-family: 'Times New Roman'; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Refers to exclusive rights disbursements of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Ipiranga&#8217;s agreements with reseller service stations and major consumers that are recognized at the time of their occurrence and recognized as a reduction</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of the </font><font style="font-family: 'Times New Roman';">revenue from sales and services</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in the statement </font><font style="font-family: 'Times New Roman';">of profit or loss </font><font style="font-family: 'Times New Roman';">according to the conditions established in the agreement</font><font style="font-family: 'Times New Roman';">, being</font><font style="font-family: 'Times New Roman';"> reviewed as changes occur under the terms of the agreements.</font><font style="font-family: 'Times New Roman';"> In December 31, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, the contracts </font><font style="font-family: 'Times New Roman';">amortization weighted average </font><font style="font-family: 'Times New Roman';">term was five years.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Balance and</font><font style="font-family: 'Times New Roman';"> changes are shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 87%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,465,989</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">549,085</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(289,436)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,307)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,706,331</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">689,986</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(282,521)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(34,570)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,079,226</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">555,052</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,524,174</font></p>
</td>
</tr>

</table>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>58</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">13</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Investments</font></font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents the amoun</font><font style="font-family: 'Times New Roman';">t reconciliation </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">share of profit (loss) of subsidiaries, joint ventures and associates</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 113px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Arial; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Arial; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br></td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: Arial; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 43%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 6%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; text-align: center; background-color: #cceeff; height: 10px;"><font style="font-family: 'times new roman', times; font-size: 8pt;"><b style="mso-bidi-font-weight: normal;"><font lang="PT-BR" style="color: #000000;">Restated (i)</font></b></font></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 43%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 6%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">691,721</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">822</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,788)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,068)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(45,812)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13.c</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">434</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,781</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,972</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">669,933</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,634)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; text-align: right; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,031)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-size: 10pt;"><sub><font style="font-family: 'Times New Roman'; vertical-align: super;">(i)</font></sub></font><font style="font-family: 'Times New Roman';"> See Note 3.c.3.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a.</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Subsidiaries and joint venture (Parent)</font></font></p>
<p style="margin: 0pt; text-align: justify; text-indent: 7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below present</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the full </font><font style="font-family: 'Times New Roman';">amounts</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">statements of financial position</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">statements of profit or </font><font style="font-family: 'Times New Roman';">loss of</font><font style="font-family: 'Times New Roman';"> subsidiaries and joint venture:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subsidiaries</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Joint venture</font></p>
</td>
</tr>
<tr style="height: 28.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo - Opera&#231;&#245;es Log&#237;sticas e Participa&#231;&#245;es Ltda. </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultrapar International S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">UVC</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Centro de Conveni&#234;ncias Millennium Ltda. </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(**)</font></font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ea&#237; Clube Automobilista S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,839,764</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">224,467,228,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,990,008</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">160,000,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,078,888</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,477,660</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,477,725</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,807,523</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,518</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,180</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">154,263</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">452,681</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,771</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,958,089</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,821,722</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,852</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,367</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">438,981</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,474,889</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,519,636</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,199)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,491</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,328</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">78,896</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,700</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">95,424,365</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,734</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">84,733</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,092,786</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">180,742</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">513,253</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,501</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,433)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,850)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(62,088)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,477</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(**) Balances are valued using the equity method based on informatio</font><font style="font-family: 'Times New Roman';">n as of November 30, 2021.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>59</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;"><br></font></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 208px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="10" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Joint venture</font></p>
</td>
</tr>
<tr style="height: 55px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo - Opera&#231;&#245;es Log&#237;sticas e Participa&#231;&#245;es Ltda. </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio&nbsp; </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultrapar International S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">UVC</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Centro de Conveni&#234;ncias Millennium Ltda.</font></font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ea&#237; Clube Automobilista S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,839,764</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,102,127</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">224,467,228,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,194,789</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">80,000,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,078,888</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,423,217</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,142,503</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,612,986</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,239,492</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,385</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,902</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">85,858</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">462,990</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,861</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,435,367</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,288,033</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,273,193</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,314</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,072</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">469,300</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,420,356</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">707</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">136 (*)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 7</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">324</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">953</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(*)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(33,701)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,358</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,588</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">63,786</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,310)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,039,475</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 64,352,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,034</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,223</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,455,668</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">157,404</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 228</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">146 (*)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"> 617</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">218</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(*)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,201)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,598)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,601)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,014)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65,623)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(*) </font><font style="font-family: 'Times New Roman';">A</font><font style="font-family: 'Times New Roman';">djusted for intercompany unrealized profits</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The percentages in the table above are rounded.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The f</font><font style="font-family: 'Times New Roman';">inancial information </font><font style="font-family: 'Times New Roman';">from business segments</font><font style="font-family: 'Times New Roman';"> is detailed in Note </font><font style="font-family: 'Times New Roman';">33</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>60</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;"><br></font></font></p>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">B</font><font style="font-family: 'Times New Roman';">alances and changes in subsidiaries and joint venture are as follows:</font></font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 99.8672%;" width="100%">

<tr>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 10.5856%;"><br></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.12613%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; width: 414.149%;" colspan="18"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Subsidiaries</font></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 0.1221%;" colspan="2"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; width: 8.7645%;" colspan="2"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10.6667px; text-align: center; float: none; display: inline !important;">Joint venture</font><font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.221%;" colspan="2"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7.9955%;"><br></td>
</tr>
<tr style="height: 48.2pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 10.5856%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.12613%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7.88288%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo Opera&#231;&#245;es Log&#237;sticas e Participa&#231;&#245;es Ltda. </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7.9955%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio&nbsp; </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.46396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 6.98198%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 5.40541%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">UVC</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 8.44595%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Centro de Conveni&#234;ncias Millennium Ltda.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.46396%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 8.22072%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ea&#237; Clube Automobilista S.A.</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 103.442%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7.88288%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultrapar International S.A.</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000; padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 121.047%;"><br></td>
<td colspan="2" style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 129.863%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 0.1221%;"><br></td>
<td colspan="2" style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 8.7645%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom-width: 1px; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7.9955%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,261,997</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,803,209</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,020,747</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,085,953</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,792</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,104,745</font></p>
</td>
</tr>
<tr style="height: 19.85pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries and joint venture from continuing operations</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">157,404</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">783,550</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,598)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,601)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,014)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(225,008)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">691,721</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,788)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">669,933</font></p>
</td>
</tr>
<tr style="height: 19.85pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries and joint venture from discontinued operations (ii)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">228,158</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(166,332)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">218,807</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(141,138)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(305,130)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(446,268)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(165)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(446,433)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Tax charges on revaluation reserve</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity instrument granted</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">503</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">703</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,902</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,800</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,908</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,908</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Valuation adjustment of subsidiaries (i)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">487</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(312,953)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,554)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(320,020)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,065</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(318,955)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Translation adjustments of foreign-based subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,169</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,169</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,169</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase in cash</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,956</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,000</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">80,000</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">97,956</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">97,956</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loss due to the payments fixed dividends to preferred shares</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(35)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,029)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,064)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,064)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shareholder transaction &#8211; changes of investments</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,189)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,189</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to provision for liabilities</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,201</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,201</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,297</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,420,356</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,707,136</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,324,953</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,358</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,588</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">63,786</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,530,177</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,530,177</font></p>
</td>
</tr>
<tr style="height: 19.85pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries and joint venture from continuing operations</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">180,742</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">914,918</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,433)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,850)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(62,088)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(198,125)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,150</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">822</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">828,972</font></p>
</td>
</tr>
<tr style="height: 19.85pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries and joint venture from discontinued operations (ii)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">249,303</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(401,665)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">217,626</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(127,969)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(215,114)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(349,893)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(692,976)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(692,976)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity instrument granted</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,507</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,281</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,643</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,800)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,631</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,631</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Valuation adjustment of subsidiaries (i)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,720</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(375)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,352</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,451</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Translation adjustments of foreign-based subsidiaries</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,049</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,049</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73,049</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Actuarial gain of post-employment benefits, net</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">976</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,055</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,273</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,723</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,996</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase in cash</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,566</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,590</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">80,000</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,156</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,156</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to (from) provision for liabilities</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,499)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,499)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,096)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,595)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale (iii)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,824,337)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(857,392)</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,681,729)</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; border-bottom-width: 1px; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,681,729)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10.5856%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.12613%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,474,889</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 6.98198%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,662,244</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 5.40541%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,491</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.35135%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 8.44595%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,328</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.46396%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 8.22072%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">78,896</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 103.442%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 7.88288%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 121.047%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 129.863%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,261,848</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 0.1221%;"><br></td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 8.7645%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,548</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.221%;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 7.9955%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,266,396</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>61</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<div style="width: 8.5in; margin: 0 auto;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<table style="width: 100%; margin-left: 0.1px; height: 44px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top; width: 3%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="height: 10px; vertical-align: top; width: 97%;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers, substantially to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the income</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;on the hedging instruments of exchange rate related to firm commitment and highly probable transactions designated as cash flow hedges, see Note&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">34</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.h.2.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to the restatement and reclassification of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">share of profit (loss) of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;investees</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in the parent company's results, for more details see note 3.c.2.1 and 3.c.3.1.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td style="height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For further details, see explanatory note 3.c.1.</font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 175px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision to short-term liabilities</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 29px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Investments in subsidiaries</font></p>
</td>
<td style="vertical-align: bottom; height: 29px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Joint venture</font></p>
</td>
<td style="vertical-align: bottom; height: 29px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 29px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 44px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; height: 44px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultrapar International S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 44px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Refinaria de Petr&#243;leo Riograndense S.A.</font></p>
</td>
<td style="vertical-align: bottom; height: 44px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 61%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,497</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,497</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to provision for short-term liabilities</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,201</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,297</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,698</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,794</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to (from) provision for short-term liabilities</font></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,499)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,096)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,595)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,199</font></p>
</td>
</tr>

</table>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<br></div>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>62</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Joint ventures (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company holds an interest in </font><font style="font-family: 'Times New Roman';">Refinaria de Petr&#243;leo</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Riograndense</font><font style="font-family: 'Times New Roman';"> S.A.</font><font style="font-family: 'Times New Roman';"> (&#8220;</font><font style="font-family: 'Times New Roman';">RPR</font><font style="font-family: 'Times New Roman';">&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in oil refining.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subsidiary</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Ultracargo</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Log&#237;stica </font><font style="font-family: 'Times New Roman';">holds</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">an</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">interest in Uni</font><font style="font-family: 'Times New Roman';">&#227;</font><font style="font-family: 'Times New Roman';">o Vopak</font><font style="font-family: 'Times New Roman';"> &#8211; Armaz&#233;ns Gerais Ltda. </font><font style="font-family: 'Times New Roman';">(&#8220;Uni&#227;o</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Vopak&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in liquid bulk storage in the port of Paranagu&#225;.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subsidiary IPP </font><font style="font-family: 'Times New Roman';">held</font><font style="font-family: 'Times New Roman';"> an interest in ConectCar, which is primarily engaged in </font><font style="font-family: 'Times New Roman';">automatic</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">payment of tolls</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">parking </font><font style="font-family: 'Times New Roman';">in the State</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Bahia, Cear&#225;, Esp&#237;rito Santo, Goi&#225;s, Mato Grosso, Mato Grosso do Sul, Minas Gerais, Paran&#225;, Pernambuco, Rio de Janeiro, Rio Grande do Sul, Santa Catarina, S&#227;o Paulo and Distrito Federal</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">On June 25, 2021, the sale of ConectCar</font><font style="font-family: 'Times New Roman';">, completed on October 1, 2021. </font><font style="font-family: 'Times New Roman';"> For further details see item </font><font style="font-family: 'Times New Roman';">13.</font><font style="font-family: 'Times New Roman';">b.1.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">subsidiary</font><font style="font-family: 'Times New Roman';"> IPP participat</font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> in </font><font style="font-family: 'Times New Roman';">the port concession </font><font style="font-family: 'Times New Roman';">BEL02A</font><font style="font-family: 'Times New Roman';"> at</font><font style="font-family: 'Times New Roman';"> the port of Miramar</font><font style="font-family: 'Times New Roman';">, in Bel&#233;m (PA),</font><font style="font-family: 'Times New Roman';"> through</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Latitude Log</font><font style="font-family: 'Times New Roman';">&#237;</font><font style="font-family: 'Times New Roman';">stica Portu&#225;ria S.A. (&#8220;Latitude&#8221;)</font><font style="font-family: 'Times New Roman';">;</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">or the port of Vit&#243;ria</font><font style="font-family: 'Times New Roman';"> (ES),</font><font style="font-family: 'Times New Roman';"> participate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> through</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Navegantes Log&#237;stica Portu&#225;ria S.A. (&#8220;Navegantes&#8221;)</font><font style="font-family: 'Times New Roman';">;</font><font style="font-family: 'Times New Roman';"> in Cabedelo</font><font style="font-family: 'Times New Roman';"> (PB)</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">has </font><font style="font-family: 'Times New Roman';">participat</font><font style="font-family: 'Times New Roman';">ion</font><font style="font-family: 'Times New Roman';"> in the </font><font style="font-family: 'Times New Roman';">Nordeste Log&#237;stica I S.A. ("Nordeste Log&#237;stica I"), Nordeste Log&#237;stica II S.A. ("Nordeste Log&#237;stica II") and Nordeste Log&#237;stica III S.A. ("Nordeste Log&#237;stica III&#8221;)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(see Note </font><font style="font-family: 'Times New Roman';">35</font><font style="font-family: 'Times New Roman';">.c</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">These investments</font><font style="font-family: 'Times New Roman';"> of joint ventures </font><font style="font-family: 'Times New Roman';">are accounted for under the equity method of accounting based on their financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>63</font></font></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balances and changes in joint ventures are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 409px; width: 100%;" width="100%">

<tr style="height: 51px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 51px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Uni&#227;o Vopak</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">RPR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">ConectCar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Latitude Log&#237;stica</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Navegantes Log&#237;stica</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica I</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica II</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica III</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 29%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,342</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,792</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">82,818</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,351</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,581</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,930</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,183</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,079</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">153,076</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">303</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,894</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,006</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,203</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital decrease (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(363)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(363)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Valuation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,065</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Proposed dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(165)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(165)</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,788)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,638)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,594)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,409)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(401)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">626</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(45,812)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to provision for liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,734</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">81,180</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,351</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,624</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">824</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,676</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,711</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,100</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital increase</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,001</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,697</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,399</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">600</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30,697</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital decrease (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,001)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,001)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Valuation adjustments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Actuarial gain of post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,723</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,723</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Shareholder transaction &#8211; changes of investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(966)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(966)</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of joint ventures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">602</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">822</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,081)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">593</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,592</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(819)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">255</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,068)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-off of investment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(78,099)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(78,099)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer from provision for liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,096)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,096)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,336</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,548</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,978</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,289</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,416</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,256</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,566</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">71,389</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(i) Refers to reimbursement of expenses that preceded the port area auctions and that were apportioned among the other members of the consortium.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision to (from) short-term liabilities</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">RPR</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 85%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 15%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer to provision for liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,096</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">from provision for liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,096)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>64</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents the </font><font style="font-family: 'Times New Roman';">statements of financial position</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">statements of profit or </font><font style="font-family: 'Times New Roman';">loss of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">joint ventures: </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="15" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 25.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Uni&#227;o Vopak</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">RPR</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">ConectCar </font><sup><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(i)</font></sup></font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Latitude Log&#237;stica</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Navegantes Log&#237;stica</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica I</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica II</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica III</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,068</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">273,029</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">171,894</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,798</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,393</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">52,022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,958</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,458</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,696</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">179,652</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">177,217</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50,215</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">167,170</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,346</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,279</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,439</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,824</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">354,001</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">174,030</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,151</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">256</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">46,615</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,418</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,960</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">268</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">84,980</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,883</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,906</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,440</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,504</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,052</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,239</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,672</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,700</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">156,198</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,956</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">66,867</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,249</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,767</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,698</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,660</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,092,786</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">60,436</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,895</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,625</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,016</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,561</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Costs, operating expenses and income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,144)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,105,544)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(97,095)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,591)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,579)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,260)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,980)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,030)</font></p>
</td>
</tr>
<tr style="height: 22.7pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net finance income and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(312)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,235</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">497</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,118)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,517)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,589)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(494)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,765)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,204</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,477</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(36,162)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,186</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,096)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,776</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,458)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">766</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,078,888</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">263,768,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,383,881</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,298,195</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">681,637</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,933,265</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,871,241</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The percentages in the table above are rounded.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)&nbsp;</font></td>
<td style="width: 97%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The balances presented refer to September 30, 2021, due to the completion of the sale of&nbsp;ConectCar&nbsp;on October 1, 2021, for further details see note 13.b.1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>65</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 243px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 30.9076%;"><br></td>
<td colspan="13" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 69.0106%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Uni&#227;o Vopak</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 0.981194%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">RPR</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 8.91251%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">ConectCar</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Navegantes Log&#237;stica (*)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 0.981194%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica I (*)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 0.981194%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica II (*)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; width: 8.99428%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Nordeste Log&#237;stica III (*)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,510</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">291,720</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">161,371</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,691</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">972</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,531</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,513</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,796</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">171,270</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">169,843</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">166,389</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,005</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30,503</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,698</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">363,388</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">168,854</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">140</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105,912</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">126,201</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,516</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,504</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,877</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,468</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,310)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">162,360</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,871</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,473</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,027</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,133</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,666</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,455,668</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Costs, operating expenses and income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,408)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,531,652)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(134,961)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,480)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,225)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,203)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,878</font></p>
</td>
</tr>
<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net finance income and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(474)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,361</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">589</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,301)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">784</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65,623)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,276)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,781)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,226)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,203)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,878</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,078,888</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">248,768,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,298,195</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">681,637</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,933,265</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,871,241</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30.9076%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.91251%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.99428%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(*) Accumulated </font><font style="font-family: 'Times New Roman';">income</font><font style="font-family: 'Times New Roman';"> for the period as of incorporation.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The percentages in the table above are rounded</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b.1 ConectCar share purchase and sale agreement</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Company concluded the process of selling its interest in ConectCar started on June 25, 2021. On September 30, 2021, ConectCar was controlled by IPP and by Redecard S.A., belonging to Ita&#250; Unibanco Holding S.A., both with equal interests of 50%.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On October 1, 2021, the Company announced the conclusion of the sale of its interest in ConectCar through its subsidiary IPP to Porto Seguro S</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">A</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">, through its subsidiary Portoseg SA &#8211; Credit, Financing and Investment. The sale value of the 50% interest in the subsidiary IPP was R$ 165 million, </font><font style="font-family: 'Times New Roman';">and, after adjustments resulting from changes in working capital and net debt position, totaled R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">158 million.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>66</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">c. Associates (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subsidiary IPP holds an interest in Transportadora</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Sulbrasileira de G&#225;s S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(&#8220;TSB&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in natural gas transportation services.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subsidiary </font><font style="font-family: 'Times New Roman';">Oxiteno S.A</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">holds an interest in Oxicap</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Ind&#250;stria de Gases Ltda. (&#8220;Oxicap&#8221;), which is primarily engaged in the supply of nitrogen and oxygen for its shareholders in the Mau&#225; petrochemical complex.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Due to the sale of the subsidiary, the balances were reclassified to assets of subsidiaries held for sale at December 31, 2021, for further details see note 3.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';"> </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he subsidiary Oxiteno S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">holds an interest in Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(&#8220;Qu&#237;mica da Bahia&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in manufacturing, marketing</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and processing of chemicals. The operations of </font><font style="font-family: 'Times New Roman';">Qu&#237;mica da Bahia</font><font style="font-family: 'Times New Roman';"> are currently suspended.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">This interest is not </font><font style="font-family: 'Times New Roman';">part</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Oxiteno </font><font style="font-family: 'Times New Roman';">sale </font><font style="font-family: 'Times New Roman';">transaction</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subsidiary Cia.</font><font style="font-family: 'Times New Roman';"> Ultragaz</font><font style="font-family: 'Times New Roman';"> holds an interest in Metal&#250;rgica Plus S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(&#8220;Metalplus&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in the manufacture and trading of LPG containers. The operations of this associate are currently suspended.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subsidiary </font><font style="font-family: 'Times New Roman';">Cia. Ultragaz</font><font style="font-family: 'Times New Roman';"> holds an interest in Plenog&#225;s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Distribuidora de G&#225;s S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(&#8220;Plenog&#225;s&#8221;)</font><font style="font-family: 'Times New Roman';">, which is primarily engaged in the marketing of LPG. The operations of this associate are currently suspended.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The</font><font style="font-family: 'Times New Roman';">se</font><font style="font-family: 'Times New Roman';"> investment</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';"> accounted for under the equity method of accounting based on</font><font style="font-family: 'Times New Roman';"> the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> as of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>67</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balances and changes in associates are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 219px; width: 100%;" width="100%">

<tr style="height: 52px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transportadora Sulbrasileira de G&#225;s S.A. </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxicap Ind&#250;stria de Gases Ltda.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Metal&#250;rgica Plus S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Plenog&#225;s Distribuidora de G&#225;s S.A.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 52px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 35%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,661</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,934</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,554</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">138</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,750</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,357)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,357)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,846</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(91)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">38</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,781</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of associates - discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,348</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,542</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">501</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,588</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capital decrease</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,500)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,500)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(998)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(998)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">552</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(100)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">434</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of associates - discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">48</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">48</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to assets held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,396)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,396)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,204</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,528</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(53)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">497</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,176</font></p>
</td>
</tr>

</table>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<br></div>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>68</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<div style="width: 8.5in; margin: 0 auto;">
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents the </font><font style="font-family: 'Times New Roman';">stat</font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';">ments of financial position</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">statements of profit or loss</font><font style="font-family: 'Times New Roman';"> of associates: </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="9" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 31.2pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transportadora Sulbrasileira de G&#225;s S.A. </font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Oxicap Ind&#250;stria de Gases Ltda.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Qu&#237;mica da Bahia Ind&#250;stria e Com&#233;rcio S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Metal&#250;rgica Plus S.A.</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Plenog&#225;s Distribuidora de G&#225;s S.A.</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 46%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,685</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">90,156</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">568</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,611</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">70,496</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,151</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">126</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,804</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,875</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,408</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">158</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">601</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,562</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,109</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">303</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">724</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,820</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,682</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,056</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(158)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,490</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,126</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,611</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Costs, operating expenses and income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(12,691)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(68,390)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(239)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
</tr>
<tr style="height: 22.7pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net finance income and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(226)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(904)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(61)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(31)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,209</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">317</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(300)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,124,996</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,987</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,493,120</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,384,308</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="9" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
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<tr style="height: 31.2pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Metal&#250;rgica Plus S.A.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Plenog&#225;s Distribuidora de G&#225;s S.A.</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 46%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,570</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,136</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">58</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">352</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,822</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">77,339</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,146</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,196</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,189</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,116</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">154</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">602</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,994</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,109</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">302</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">890</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,601</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,365</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,084</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,504</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,295</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">58,677</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Costs, operating expenses and income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,475)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(54,163)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(212)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">396</font></p>
</td>
</tr>
<tr style="height: 22.7pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net finance income and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(437)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,770)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(60)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(39)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,383</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,744</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(272)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">357</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;"><br></td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Number of shares or units held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,124,996</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,987</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,493,120</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,384,308</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">% of capital held</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The percentages in the table above are rounded.</font></p>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>69</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><br></p>
</div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">14</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Right</font><font style="font-family: 'Times New Roman'; font-weight: bold;">-of-</font><font style="font-family: 'Times New Roman'; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-weight: bold;">se </font><font style="font-family: 'Times New Roman'; font-weight: bold;">as</font><font style="font-family: 'Times New Roman'; font-weight: bold;">sets and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-weight: bold;">eases </font><font style="font-family: 'Times New Roman'; font-weight: bold;">p</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ayable</font></font><br></p>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and s</font><font style="font-family: 'Times New Roman';">ome subsidiaries have real estate leases, substantially related to: (i) Ipiranga: fuel stations</font><font style="font-family: 'Times New Roman';"> and distribution center</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">; (ii) Ultragaz: points of sale and bottling base</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">; (i</font><font style="font-family: 'Times New Roman';">ii</font><font style="font-family: 'Times New Roman';">) Ultracargo: port areas </font><font style="font-family: 'Times New Roman';">and (</font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';">v) Company: offices</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">The Company and s</font><font style="font-family: 'Times New Roman';">ome subsidiaries also have lease agreements relating to vehicles.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. Right-of-</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">se </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ssets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Parent</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 164px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 36%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 36%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 36%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,923</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,978</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,901</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 36%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,591</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">522</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(253)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,860</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 36%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,514</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(253)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50,761</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 36%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 36%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,963)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,151)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,114)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 36%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(942)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,343)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 36%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,452)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,093)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,457)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 36%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,062</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(165)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,093)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,304</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>70</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 00pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 163px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 25%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assignment of contract (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,799</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,123</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,001</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">41,923</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,762</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,591</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,799</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,885</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,001</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,514</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,762)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,201)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,963)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,762)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,690)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,452)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,799</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,885</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,690)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,062</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(i) Assignment of contract of the Company Ultragaz to Ultrapar due implantation of Shared Service Center (&#8220;SSC&#8221;).</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>71</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Consolidated</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 317px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 22%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Reclassification to assets held for sale (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,254,432</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">257,787</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(150,718)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,295</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(569,323)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,793,473</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Port area</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">268,534</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,096</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">299,630</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,843</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,589</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,315)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,047)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">146,173</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,936</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,887</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,171)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,920</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,832)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,740</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,846</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,846</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,735,591</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">335,359</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(166,204)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,318</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(624,202)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,283,862</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(481,975)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">76,954</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(530)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(283,882)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">199,963</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(489,470)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Port area</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,962)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,935)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,629)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,526)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(63,091)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,032</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(54)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(48,146)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(98,867)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,619)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,483</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(897)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,637)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,836</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,834)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,658)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,212)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,870)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(585,305)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">90,469</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,935)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,481)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(359,506)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">235,191</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(632,567)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Impairment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(38,957)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">38,957</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(38,957)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">38,957</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,150,286</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">296,402</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(75,735)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,935)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,837</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(359,506)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(350,054)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,651,295</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 2%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 98%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to the amortization of right</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">-</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">-</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">use</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;assets in the subsidiary&nbsp;Tequimar&nbsp;Vila do Conde&nbsp;Log&#237;stica&nbsp;Portu&#225;ria&nbsp;S.A. (&#8220;Tequimar&nbsp;Vila do Conde&#8221;)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, which is being capitalized</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;as Construction in progress</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">starting its operation in December 2021</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For further information, see Note 3.c.1.</font></td>
</tr>
<tr>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(ii</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">i</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font></font></td>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Includes lease&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">contracts</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;as&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">presented&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">N</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ote&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">9</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.a.</font></font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(*) Includes balances of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">14,905 referring to initial direct costs of right-of-use assets.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>72</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';"><font>&nbsp;</font>and Consolidated Financial<font>&nbsp;</font></font><font style="font-family: 'Times New Roman';">Statements</font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 266px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 25%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,068,254</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">259,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(78,529)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,254,432</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Port area</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,007</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">200,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">268,534</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91,868</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55,616</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,893)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">252</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,843</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,822</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,833</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(572)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,853</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,936</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,846</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,846</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,287,797</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">523,220</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(86,994)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,568</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,735,591</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real estate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(256,430)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">46,282</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(697)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(271,130)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(481,975)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Port area</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,962)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,962)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(27,492)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,509</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">232</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(41,340)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(63,091)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,600)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">572</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,996)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,595)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,619)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,363)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,295)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,658)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(306,885)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">52,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,461)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(328,322)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(585,305)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,980,912</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">523,220</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(34,631)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,107</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(328,322)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,150,286</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</div>
<font style="font-family: 'Times New Roman'; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></font>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>73</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p><br></p>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. Lease</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">p</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ayable</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The changes in leases </font><font style="font-family: 'Times New Roman';">payable </font><font style="font-family: 'Times New Roman';">are shown below:</font></font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 323px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 10%; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,999</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 10%; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,588,673</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest accrued</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,865</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">144,655</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,256)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(360,787)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,885</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">484,121</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(35,381)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,007</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assignment of contract </font><font style="font-family: 'Times New Roman'; font-size: 8pt; vertical-align: super;">(i)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,612</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">37,934</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,833,288</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest accrued</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,220</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">147,494</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments </font><font style="font-family: 'Times New Roman'; font-size: 8pt; vertical-align: super;">(ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,462)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(440,574)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions and remeasurement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">288,711</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Write-offs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(170)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(83,157)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,264</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reclassification to liabilities held for sale </font><font style="font-family: 'Times New Roman'; font-size: 8pt; vertical-align: super;">(iii)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(413,715)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,348,311</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,129</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">188,832</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,893</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,159,479</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 2%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 98%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Assignment of contract of the Company Ultragaz to Ultrapar.</font></td>
</tr>
<tr>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; vertical-align: super;">(i</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; vertical-align: super;">i</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; vertical-align: super;">)</font></font></td>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes the amount of R$ 29,237 paid by subsidiary&nbsp;</font>Tequimar<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Vila do Conde related to port concession grants.</font></font></td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For further information. s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ee&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">N</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ote&nbsp;3.c.1.</font></font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The future disbursements (installments) assumed under </font><font style="font-family: 'Times New Roman';">leases</font><font style="font-family: 'Times New Roman';"> contracts are presented below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 154px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Up to 1 year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,130</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">304,007</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,813</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">264,224</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">241,323</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 3 to 4 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,890</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">218,157</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 4 to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,768</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">152,671</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">More than 5 years</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">965,220</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 10%; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,793</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,145,602</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The contracts related to the leases payable are substantially indexed by the IGP-M (General Market Price Index is a measure of Brazilian inflation, calculated by the Get&#250;lio Vargas Foundation).</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>74</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b.1. Discount rates</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The weighted average discount rates for the lease contracts </font><font style="font-family: 'Times New Roman';">of the Company </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 102px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td colspan="2" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 425.2pt; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Contracts for maturity date and discount rate</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 222.65pt; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maturity date of the contracts</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 202.55pt; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Discount rates (% p.a.)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 222.65pt; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Up to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 202.55pt; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.92</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 222.65pt; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 6 to 10 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 202.55pt; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.12</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 222.65pt; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">From 11 to 15 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 202.55pt; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.35</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 222.65pt; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">More than 15 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 202.55pt; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.18</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Lease contracts of low amount assets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subsidiaries Cia. Ultragaz, Bahiana, </font><font style="font-family: 'Times New Roman';">I</font><font style="font-family: 'Times New Roman';">PP and</font><font style="font-family: 'Times New Roman';"> Serma have operating lease contracts </font><font style="font-family: 'Times New Roman';">consider as </font><font style="font-family: 'Times New Roman';">being of </font><font style="font-family: 'Times New Roman';">low value, short term and variable payments </font><font style="font-family: 'Times New Roman';">for the use of</font><font style="font-family: 'Times New Roman';"> factory and</font><font style="font-family: 'Times New Roman';"> IT equipment</font><font style="font-family: 'Times New Roman';">&#8217;</font><font style="font-family: 'Times New Roman';">s, vehicles and real states</font><font style="font-family: 'Times New Roman';">. The subsidiaries have the option to purchase the assets </font><font style="font-family: 'Times New Roman';">referring to IT equipment </font><font style="font-family: 'Times New Roman';">at a price equal to the fair </font><font style="font-family: 'Times New Roman';">value</font><font style="font-family: 'Times New Roman';"> on the date of option, and management does not intend to exercise such option. The future disbursements (</font><font style="font-family: 'Times New Roman';">payments</font><font style="font-family: 'Times New Roman';">), assumed </font><font style="font-family: 'Times New Roman';">as a result of</font><font style="font-family: 'Times New Roman';"> these contracts amount approximately to:</font></font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 44px;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 70%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Up to 1 year</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Between 1 and 5 years</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 70%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">124</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">994</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,118</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 70%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,147</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,145</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,292</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The</font><font style="font-family: 'Times New Roman';"> amount of lease considered</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman';"> of</font><font style="font-family: 'Times New Roman';"> low value, short term and variable payments, recognized as </font><font style="font-family: 'Times New Roman';">an </font><font style="font-family: 'Times New Roman';">expense </font><font style="font-family: 'Times New Roman';">for the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended</font><font style="font-family: 'Times New Roman';"> as of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">was R$ 13,524</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(R$ </font><font style="font-family: 'Times New Roman';">17,749</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';"> ended</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2020</font><font style="font-family: 'Times New Roman';">).</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>75</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Inflation effect</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The effects of inflation </font><font style="font-family: 'Times New Roman';">for the year ended as of December 31, 2021</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">are as follows:</font></font></p>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Right to use asset, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nominal base</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">35,304</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,651,295</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inflated base</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,311</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,995,478</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19.8%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20.8%</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Lease liability</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nominal base</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,348,311</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inflated base</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">46,028</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,692,494</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18.0%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25.5%</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1.5pt double #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1.5pt double #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Financial expense</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nominal base</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,220</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">110,879</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inflated base</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,132</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">144,164</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28.3%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30.0%</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Amortization expense</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Nominal base</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,093</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">260,716</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Inflated base</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,119</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">294,221</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="color: #323130; font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16.8%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12.9%</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>76</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p><br></p>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">15</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Property, </font><font style="font-family: 'Times New Roman'; font-weight: bold;">p</font><font style="font-family: 'Times New Roman'; font-weight: bold;">lant, and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;">quipment</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Balances and changes in </font><font style="font-family: 'Times New Roman';">PP&amp;E</font><font style="font-family: 'Times New Roman';"> are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Parent</font></font></li>
</ul>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 232px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,194</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,888</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,082</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">82</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">124</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">502</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,810</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,312</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,293</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,313</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,071</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,760</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,831</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(178)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,216)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,394)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(34)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(40)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(37)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,149)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,186)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,522)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,683)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,205)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,743)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,082)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,825)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,328</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,760</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,082)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,006</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>77</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 248px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 36%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">142</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,052</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,194</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">82</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">82</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">398</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">502</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Construction in progress</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,532)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,293</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,293</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,539</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,071</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(178)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(178)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(37)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(37)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,522)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,522)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,743)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,743)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,539</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,743)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,328</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>78</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Consolidated</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 241px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 21%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Transfer </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(i) (ii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Reclassification to assets held for sale</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(iii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Land</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">687,108</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,424</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,503)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,416</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65,151)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">610,294</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Buildings</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,154,710</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,920</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,748</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(34,925)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,997</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(827,729)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,486,721</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,222,822</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,944</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">136,206</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(31,587)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(293,236)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,056,179</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,498,362</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">161,071</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">558,197</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,811)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">93,412</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,272,654)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,024,577</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,169,320</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">88,112</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,794</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(45,640)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,245,586</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LPG tanks and bottles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">776,479</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91,842</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,567</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(28,957)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">840,931</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">310,836</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,054</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,634</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(25,949)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">82</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(27,418)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">288,239</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">316,712</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,644</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,277</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,614)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171,223)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">168,092</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">444,844</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,350</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">901</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,998)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">705</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(132,427)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">330,375</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Construction in progress </font><font style="font-family: 'Times New Roman'; vertical-align: super; font-size: 8pt;">(ii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">580,695</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">797,674</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(829,245)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(301)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,290</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(99,865)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">452,248</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advances to suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,642</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,985</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,894)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,452)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,281</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Imports in progress</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">866</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,312</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,631)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">38</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(404)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">181</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,197,396</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,318,332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,554</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(225,285)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">129,266</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,913,559)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,517,704</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>79</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 402px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 28%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Transfer </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(i) (ii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Reclassification to assets held for sale</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(iii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Buildings</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(851,397)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(68,388)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(94)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,031</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,872)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">317,874</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(585,846)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(689,161)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(81,976)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">81</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,519</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(37)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">170,021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(573,553)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,598,304)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(356,637)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,717</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,651)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,206,474</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,758,401)</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,906,953)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(178,110)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(311)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,841</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,050,533)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LPG tanks and bottles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(454,651)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(62,558)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,899</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(498,310)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(143,854)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(22,927)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">195</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,480</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(20)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,977</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(133,149)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(191,713)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,594)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,443</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(817)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">89,369</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(112,288)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(352,256)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(35,614)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">317</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,489</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(435)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">106,965</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(269,534)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,188,289)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(829,804)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">212</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">157,419</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(29,832)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,908,680</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,981,614)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Land</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(146)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(146)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(61)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,666)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,712</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,857)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(839)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(45)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,446</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,289)</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(73)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(46)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(160)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">160</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,887)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,887</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,660)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,660</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advances to suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(110)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">110</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,247)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(61,212)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(48)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">62,975</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,499)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,005,860</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,257,120</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(829,804)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,766</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(67,833)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99,386</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,941,904)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,534,591</font></p>
</td>
</tr>

</table>
<p><br></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 2%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 98%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">R</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">169</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">transferred&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;intangible assets.</font></font></td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Includes R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">11,935</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;transferred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;from right-of-use</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;assets</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For further information, see Note 3.c.1.</font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>80</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 241px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 30%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Land</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">667,865</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,300</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,113</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,427)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,257</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">687,108</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Buildings</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,925,946</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,572</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">148,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(27,210)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">81,875</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,154,710</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,121,528</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">89,559</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,954)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">315</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,222,822</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,707,721</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">144,089</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">378,883</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,554)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">273,223</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,498,362</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,991,472</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">90,279</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,963</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(46,394)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,169,320</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LPG tanks and bottles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">755,460</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,230</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">289</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,500)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">776,479</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">320,161</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">22,495</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(40,517)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">334</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">310,836</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">295,604</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,985</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,775</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,694)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,042</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">316,712</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Construction in progress</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">827,086</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">506,367</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(765,785)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,167)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,194</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">580,695</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advances to suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12,544</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,339</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,185)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(56)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,642</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Imports in progress</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">250</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,437</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(822)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">866</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">412,809</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,134</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">539</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,827)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,189</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">444,844</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,038,446</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">979,601</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,781)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(203,300)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">386,430</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,197,396</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>81</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 303px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 37%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Depreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated depreciation:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Buildings</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(793,835)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65,318)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,376</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,641)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(851,397)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(614,379)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(80,995)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,252</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(88)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(689,161)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,231,627)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(317,694)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">59</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,091</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(53,133)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,598,304)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,766,878)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(176,404)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36,335</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,906,953)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">LPG tanks and bottles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(425,554)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(56,267)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(30)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">27,200</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(454,651)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Vehicles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(139,045)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,585)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">48</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,997</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(269)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(143,854)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Furniture and utensils</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(171,475)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(21,060)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,988</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,173)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(191,713)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">IT equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(318,063)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(35,080)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">122</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,676</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,911)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(352,256)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,460,856)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(777,403)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,625</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">119,560</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(72,215)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,188,289)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advances to suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(110)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(110)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Land</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(146)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(146)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leasehold improvements</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,599)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">910</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">639</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(61)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Machinery and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,875)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">156</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(138)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,857)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive fuel/lubricant distribution equipment and facilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(98)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(73)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,828)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">910</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">820</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(149)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,247)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,572,762</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">980,511</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(777,403)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,156)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(82,920)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">314,066</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,005,860</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(i) Refers to amounts transferred between items and to intangible assets.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Construction in progress relates substantially to expansions, renovations, constructions and upgrade of industrial facilities, terminals, stores, service stations and distribution bases.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advances to suppliers is related, basically, to manufacturing of assets for expansion of plants, terminals, stores, service stations and bases and acquisition of real estate.</font></p>
</div>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>82</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p><br></p>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">16. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Intangible </font><font style="font-family: 'Times New Roman'; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ssets</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Balances and changes in intangible assets are </font><font style="font-family: 'Times New Roman';">as follows</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 10pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Parent</font></font></li>
</ul>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 147px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,111</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,308</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">255,274</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">255,471</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,854)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,886)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,854)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,886)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">254,242</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,854)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">252,585</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>83</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 36pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 47%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,111</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,111</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,111</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">255,274</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">246,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,111</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,032)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">254,242</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;"><br></font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>84</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Consolida</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ted</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 385px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 21%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Reclassification to assets held for sale (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,525,088</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(706,992)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">818,096</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,395,046</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">284,311</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">372</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,826)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,808</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(514,731)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,146,980</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Technology (c) </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,617</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,617)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">12</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,599</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(19,006)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,593</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brands (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">136,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,759</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(72,523)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,198</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trademark rights (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,792</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,792</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50,698</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,678</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(76)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(51,879)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">421</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decarbonization credits (f)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">176,837</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(176,837)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,388,802</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">462,826</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">372</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(196,663)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,491</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,397,748)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,264,080</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(825,024)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(206,025)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(203)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,329</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,566)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">334,087</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(679,402)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Technology</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,617)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,617</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(113,326)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,093)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15,392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(101,027)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trademark rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,056)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,937)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11,993)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,844)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(167)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,611</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(402)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,012,867)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(212,222)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(203)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,329</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,568)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">414,707</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(792,824)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses and impairment:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(68,273)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">661,553</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(76,218)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">76,218</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(144,491)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">737,771</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,782,655</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">318,335</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(212,222)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">169</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(177,334)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,923</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(245,270)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,471,256</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 2%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 98%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to amounts transferred&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">from</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">PP&amp;E</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For further information, see Note 3.c.1.</font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>85</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 42.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 30%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average useful life (years)</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Transfer (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Write-offs and disposals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Effect of foreign currency exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,525,088</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,525,088</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,210,529</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">184,027</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">993</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,633)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,130</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,395,046</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Technology (c) </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,617</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">32,617</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial property rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7,934</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,934)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,599</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">133,599</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brands (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">122,504</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,458</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">136,962</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trademark rights (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,792</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">114,792</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,900</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,040</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,758</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50,698</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decarbonization credits (f)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">125,345</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,058)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(124,287)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,191,963</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">310,412</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(138,854)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,346</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,388,802</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Accumulated amortization:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Software</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(648,861)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(175,144)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,375</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,394)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(825,024)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Technology</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,616)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,616)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial property rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,384)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(85)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,469</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Distribution rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(108,932)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,394)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(113,326)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trademark rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,119)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,937)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,056)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,713)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(121)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(11)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(32,845)</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(835,625)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(182,681)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,844</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,405)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,012,867)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Provision for losses and impairment:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial property rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(465)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">465</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,745)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">465</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net amount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,762,593</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">310,412</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(182,681)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(65)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(128,545)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,941</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,782,655</font></p>
</td>
</tr>

</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(i) Refers to amounts transferred to property, plant and equipment and prepaid expenses.</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>86</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p><br></p>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Goodwill</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The balance </font><font style="font-family: 'Times New Roman';">of the goodwill </font><font style="font-family: 'Times New Roman';">is tested annually for impairment</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is represented by</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the following </font><font style="font-family: 'Times New Roman';">acquisitions</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 294px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Segment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Goodwill on the acquisition of:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 63%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">661,553</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">661,553</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma &#8211; impairment (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(661,553)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593,280)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma &#8211; net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,273</font></p>
</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga <font style="font-size: 8pt;">(ii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">276,724</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">276,724</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Uni&#227;o Terminais</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">211,089</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">211,089</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Texaco</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">177,759</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">177,759</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Iconic (CBLSA)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,807</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">69,807</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno Uruguay (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,856</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Temmar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,781</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,781</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">DNP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,736</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,736</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Repsol</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,403</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,403</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">TEAS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">797</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">797</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others <font style="font-size: 8pt;">(iii)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">583</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">818,096</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">931,808</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 51px; font-family: 'times new roman'; font-size: 10pt;">

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<td style="height: 17px; width: 2%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="height: 17px; width: 98%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For further&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">information, see Note 3.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">a</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<td style="height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="height: 17px;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Including R$ 246,163 pre</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">sented&nbsp;as goodwill</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">at</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">parent Company&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Ultrapar</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<td style="height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td style="height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">For further information about reclassification, see Note 3.c.1.</font></td>
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<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On December 31, </font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the Company tested the balances of goodwill shown in the table above for impairment. The determination of value in use involves assumptions, judgments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and estimates of cash flows, such</font><font style="font-family: 'Times New Roman';"> as growth rates of revenues, costs and expenses, estimates of investments and working capital</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and discount rates. The assumptions about growth projections and future cash flows are based on the </font><font style="font-family: 'Times New Roman';">Company&#8217;s </font><font style="font-family: 'Times New Roman';">business plan</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">its </font><font style="font-family: 'Times New Roman';">operating </font><font style="font-family: 'Times New Roman';">segments</font><font style="font-family: 'Times New Roman';">, as well as comparable market data, and represent management&#8217;s best estimate of the economic conditions that will exist over the economic life of the various CGUs, to which goodwill is related. The main key-assumptions used by the Company to calculate the value in use are described below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Period of evaluation</font><font style="font-family: 'Times New Roman';">: t</font><font style="font-family: 'Times New Roman';">he evaluation of the value in use is calculated for a period of </font><font style="font-family: 'Times New Roman';">five</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">years</font><font style="font-family: 'Times New Roman';"> (exce</font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">t </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Extrafarma</font><font style="font-family: 'Times New Roman';"> segment</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">, after which </font><font style="font-family: 'Times New Roman';">the Company</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">calculate</font><font style="font-family: 'Times New Roman';">d</font><font style="font-family: 'Times New Roman';"> the perpetuity, considering the possibility of carrying the business on indefinitely.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">Extrafarma segment, a period of </font><font style="font-family: 'Times New Roman';">ten</font><font style="font-family: 'Times New Roman';"> years </font><font style="font-family: 'Times New Roman';">was used </font><font style="font-family: 'Times New Roman';">due to </font><font style="font-family: 'Times New Roman';">a four-year</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">period </font><font style="font-family: 'Times New Roman';">to maturity </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">new stores</font><font style="font-family: 'Times New Roman';"> were considered</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Discount and real growth rates</font><font style="font-family: 'Times New Roman';">:</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">o</font><font style="font-family: 'Times New Roman';">n December 31, </font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">21</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> t</font><font style="font-family: 'Times New Roman';">he discount and </font><font style="font-family: 'Times New Roman';">real </font><font style="font-family: 'Times New Roman';">growth rates used to extrapolate the projections ranged </font><font style="font-family: 'Times New Roman';">from </font><font style="font-family: 'Times New Roman';">9.4</font><font style="font-family: 'Times New Roman';">% to </font><font style="font-family: 'Times New Roman';">10.5</font><font style="font-family: 'Times New Roman';">% </font><font style="font-family: 'Times New Roman';">and </font><font style="font-family: 'Times New Roman';">from </font><font style="font-family: 'Times New Roman';">0</font><font style="font-family: 'Times New Roman';">% to </font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">% p.</font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';">.,</font><font style="font-family: 'Times New Roman';"> respectively, depending on the CGU analyzed.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; text-decoration: underline;">Revenue from sales and services, costs and expenses, and gross margin</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">considers</font><font style="font-family: 'Times New Roman';"> the budget prepared</font><font style="font-family: 'Times New Roman';"> for </font><font style="font-family: 'Times New Roman';">202</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';"> and the long-term strategic plan prepared</font><font style="font-family: 'Times New Roman';"> by management and approved by the Board of Directors.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>87</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Software</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">I</font><font style="font-family: 'Times New Roman';">ncludes user licenses and costs for the implementation of the various systems used by the Company and its subsidiaries: integrated management and control, financial management, foreign trade, industrial automation, operational and storage management, accounting information</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and other </font><font style="font-family: 'Times New Roman';">systems.</font><font style="font-family: 'Times New Roman';"> Also include expenses related to software in progress </font><font style="font-family: 'Times New Roman';">in the amount of R$ </font><font style="font-family: 'Times New Roman';">27,672</font><font style="font-family: 'Times New Roman';"> on </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">R$ </font><font style="font-family: 'Times New Roman';">13,684</font><font style="font-family: 'Times New Roman';"> on December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';"> - restated</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Technology</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subsidiaries Oxiteno S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and Oleoqu&#237;mica</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">recognize as technology certain rights of use held by them. Such licenses include the production of ethylene oxide, ethylene glycols, ethanolamines, glycol ethers, ethoxylates, solvents, fatty acids from vegetable oils, fatty alcohols, and specialty chemicals, which are products that are supplied to various industries.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The balance in question was reclassified to assets of subsidiaries held for sale. For </font><font style="font-family: 'Times New Roman';">further</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">details</font><font style="font-family: 'Times New Roman';">, see </font><font style="font-family: 'Times New Roman';">Note</font><font style="font-family: 'Times New Roman';"> 3.b.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Brands and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">t</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">rademark rights</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Brands </font><font style="font-family: 'Times New Roman';">are represented by the acquisition cost of the &#8216;am/pm&#8217; brand in Brazil</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">acquired in the business combination</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and Chevron</font><font style="font-family: 'Times New Roman';"> and Texaco</font><font style="font-family: 'Times New Roman';"> trademark rights</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">e. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Other intangible</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">s</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">efer</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> mainly to </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">loyalty program </font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">Clube Extrafarma</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';"> reclassified to assets of subsidiaries held for sale. For </font><font style="font-family: 'Times New Roman';">further</font><font style="font-family: 'Times New Roman';"> details, see </font><font style="font-family: 'Times New Roman';">N</font><font style="font-family: 'Times New Roman';">ote 3.a.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">f. Decarbonization credits</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Represent t</font><font style="font-family: 'Times New Roman';">he CBIO</font><font style="font-family: 'Times New Roman';">S</font><font style="font-family: 'Times New Roman';"> acquired </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman';"> recorded at acquisition cost.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">amount</font><font style="font-family: 'Times New Roman';"> in the &#8220;</font><font style="font-family: 'Times New Roman';">write-offs</font><font style="font-family: 'Times New Roman';">&#8221; column refers to CBIOS retired in the </font><font style="font-family: 'Times New Roman';">year</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">that can not be the object of </font><font style="font-family: 'Times New Roman';">future negotiation.</font></font></p>
</div>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>88</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<h1 style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;"><br></font></font></h1>
<h1 style="margin: 0px; break-after: avoid; break-inside: avoid; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">17</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">&nbsp;</font><font style="font-weight: bold;">Loans</font><font style="font-weight: bold;">,</font><font style="font-weight: bold;"> </font><font style="font-weight: bold;">f</font><font style="font-weight: bold;">inancing,</font><font style="font-weight: bold;"> </font><font style="font-weight: bold;">d</font><font style="font-weight: bold;">ebentures</font><font style="font-weight: bold;"> and </font><font style="font-weight: bold;">h</font><font style="font-weight: bold;">edge </font><font style="font-weight: bold;">d</font><font style="font-weight: bold;">erivative </font><font style="font-weight: bold;">f</font><font style="font-weight: bold;">inancial </font><font style="font-weight: bold;">i</font><font style="font-weight: bold;">nstruments</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">a. Composition</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 2pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Parent</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 182px; width: 100%;" width="100%">

<tr style="height: 44px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Description</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Index/ Currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Weighted average financial charges 12/31/2021 &#8211; % p.a.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 44px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian Reais:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 48%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; 6th issuance (f.5)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,764,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,734,113</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.3</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2023</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes &#8211; Ultrapar (g.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,038,499</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ + DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,764,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,772,612</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">39,333</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,048,495</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,866</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,117</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>89</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 0px; text-align: justify; text-indent: 0px;"><br></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 2pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 518px; width: 100%;" width="100%">

<tr style="height: 51px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Description</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Index/ Currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Weighted average financial charges 12/31/2021 &#8211; % p.a.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 48%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes in the foreign market (b) (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,821,441</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,267,687</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5.3</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2026 to 2029</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign loan (c.1) (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">735,438</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,047,644</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">US$ </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.0</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2023</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign loan (c.1) (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">275,936</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">261,284</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;">US$ + LIBOR <font style="vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1.0</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial institutions (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">154,783</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial institutions (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">39,350</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;">MX$ <font style="vertical-align: super;">(2)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial institutions (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">312,200</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;">US$ + LIBOR <font style="vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Advances on foreign exchange contracts</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105,579</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8,832,815</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,188,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian Reais:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; CRA (f.2, f.4 and f.6)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 2,063,788</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 2,037,602</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">95.8</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022 to 2023</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; 6&#170; issuance (f.5)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,764,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,734,113</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.3</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2023</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; CRA (f.2, f.4, f.6 and f.10) (*)&nbsp; </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,940,237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,000,824</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IPCA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.7</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2024 to 2028</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; Ipiranga (f.1 and f.3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 771,538</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,679,036</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.0</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; Ultracargo Log&#237;stica and Tequimar Vila do Conde (f.8 and f.9) (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 466,061</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IPCA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2028</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Banco do Brasil (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 204,813</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 407,420</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">110.9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures &#8211; Ultracargo Log&#237;stica (f.7) (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 80,946</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 92,541</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6.5</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2024</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Bank Credit Bill</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 51,179</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 50,692</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ + DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2.0</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial institutions (d)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 4,564</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">FINEP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 326</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 29,803</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">TJLP (3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1.5)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2022</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes - Ultrapar (g.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 0.5px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 0.5px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 1,038,499</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ + DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total in Brazilian Reais</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 7,347,651</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 8,070,530</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total foreign currency and Brazilian Reais</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 16,180,466</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 17,259,057</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Currency and interest rate hedging instruments (**)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 0.5px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 197,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 0.5px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 117,159</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 16,377,643</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 17,376,216</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 2,866,051</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 3,255,944</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 13,511,592</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"> 14,120,272</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 34px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 17px;">
<td style="width: 2%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(*)</font></td>
<td style="width: 98%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">These transactions were designated for hedge accounting (see Note 34.h).</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(**)</font></td>
<td style="height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Accumulated losses (see Note 34.i).</font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; height: 85px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 17px;">
<td style="width: 2%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
<td style="width: 98%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">LIBOR = London Interbank Offered Rate.</font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 2%; height: 17px;"><br></td>
<td style="width: 98%; height: 17px;"><br></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 2%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
<td style="height: 17px; width: 98%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">MX$ = Mexican Peso.</font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 2%; height: 17px;"><br></td>
<td style="width: 98%; height: 17px;"><br></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 2%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></td>
<td style="height: 17px; width: 98%;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">TJLP (Long-term Interest Rate) = set by the National Monetary Council, TJLP is the basic financing cost of Banco&nbsp;</font>Nacional<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;de&nbsp;</font>Desenvolvimento<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Econ&#244;mico<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;e Social (&#8220;BNDES&#8221;), the Brazilian Development Bank. On December 31, 2021, TJLP was fixed at 5.32&nbsp; % p.a.</font></font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>90</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br><font style="font-size: 10pt; font-family: 'times new roman', times;">The changes in loans, financing, debentures and hedge derivative financial instruments are shown below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 340px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,752,081</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">14,392,722</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">New loans and debentures with cash effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">994,996</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,591,624</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest accrued</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">94,323</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">757,161</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Principal payment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,795,002)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest payment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(68,788)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(740,853)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Monetary and exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,048,688</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Change in fair value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">34,702</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hedge result</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">87,174</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,772,612</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">17,376,216</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">New loans and debentures with cash effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,462,220</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest accrued</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">94,458</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">801,102</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Principal payment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,000,000)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,922,214)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest payment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(102,871)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(749,043)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Monetary and exchange rate variation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">800,749</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Change in fair value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(229,657)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hedge result</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">80,018</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification to liabilities held for sale (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(241,748)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,764,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,377,643</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt;">(i) For further information, see Note 3.c.1.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The long-term consolidated debt had the following principal maturity schedule:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 170px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">From 1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,866</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(750)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,092,734</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,702,626</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">From 2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,867</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">774,904</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,091,641</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">From 3 to 4 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">270,401</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">784,778</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">From 4 to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,056,499</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">231,271</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">More than 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,317,054</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,309,956</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,866</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,724,117</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,511,592</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">14,120,272</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The transaction costs and issuance premiums associated with debt issuance were added to their financial liabilities, as shown in Note 17.h.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Company&#8217;s management entered into hedging instruments against foreign exchange and interest rate variations for a portion of its debt obligations (see Note 34.h).</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>91</font></font></td>
</tr>

</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR" style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;">b.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Notes in the foreign market</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On October 6, 2016 the subsidiary Ultrapar International S.A. (&#8220;Ultrapar International&#8221;) issued US$ 750,000 (equivalent to R$ 4,185,375 as of December 31, 2021) in notes in the foreign market, maturing in October 2026, with interest rate of 5.25% p.a., paid semiannually. The issue price was 98.097% of the face value of the note. The notes were guaranteed by the Company and its subsidiary IPP. The Company has designated hedge relationships for this transaction (see Notes 34.h.2 and 34.h.3).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On June 6, 2019 the subsidiary Ultrapar International issued US$ 500,000 (equivalent to R$ 2,790,250 as of December 31, 2021) in notes in the foreign market, maturing in June 2029, with interest rate of 5.25% p. a., paid semiannually. The issue price was 100% of the face value of the note. The notes were guaranteed by the Company and its subsidiary IPP. The Company has designated hedge relationships for part of this transaction (see Note 34.h.3).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On June 21, 2019, the subsidiary Ultrapar International repurchased US$ 200,000 (equivalent to R$ 1,116,100 as of December 31, 2021) in notes in the foreign market maturing in October 2026.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On July 13, 2020 the subsidiary Ultrapar International made the reopening of notes in the foreign market issued in 2019, realizing new issuance in the amount of US$ 350,000 (equivalent to R$ 1,953,175 as of December 31, 2021) maturing in June 2029, to the coupon (interest) and yield of 5.25% per year, paid semiannually. The issue price was 99.994% of face value of the note. The notes were guaranteed by the Company and the subsidiary IPP.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">As a result of the issuance of the notes in the foreign market the Company and its subsidiaries are required to perform certain obligations, including:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Restriction on sale of all or substantially all assets of the Company and subsidiaries Ultrapar International and IPP;</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Restriction on encumbrance of assets exceeding US$ 150,000 (equivalent to R$ 837,075 as of December 31, 2021) or 15% of the amount of the consolidated tangible assets.</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Company and its subsidiaries are in compliance with the levels of covenants required by this debt. The restrictions imposed on the Company and its subsidiaries are customary in transactions of this nature and have not limited their ability to conduct their business to date.</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>92</font></font></td>
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</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR" style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;">c. Foreign </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">oans</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">c.1</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;"> </font>The subsidiary IPP has foreign loans in the amount of US$ 175,000 (equivalent to R$ 976,588 as of December 31, 2021). IPP also contracted hedging instruments with floating interest rate in U.S. dollar and exchange rate variation, changing the foreign loans charges, on average, to 104.9% of DI. IPP designated these hedging instruments as a fair value hedge (see Note 34.h.1). Therefore, loans and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss. The foreign loans are secured by the Company.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The foreign loans have the maturity distributed as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 100px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Cost in % of DI</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 68%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Charges <font style="vertical-align: super; font-size: 8pt;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,234</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">34,786</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Jun/2022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">50,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">279,025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.0</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sep/2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">60,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">334,830</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.0</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sep/2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">65,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">362,733</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">104.8</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total / average cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">181,234</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,011,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">104.9</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="vertical-align: super;"> </font><font style="vertical-align: super; font-size: 7pt;">(1)</font><font style="font-size: 8pt;"> Includes interest, transaction costs and mark to market.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;">d. Financial </font><font style="font-style: italic; font-weight: bold;">i</font><font style="font-style: italic; font-weight: bold;">nstitutions</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">In December 2021, the subsidiary Abastece A&#237; ended the year with a short-term liabilities in the amount of R$ 4,564.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary Oxiteno M&#233;xico S.A de C.V has contracted loan of US$ 20,000 with maturity in April 2022. The other maturities of this item are represented by Oxiteno Uruguay with maturities between October 2021 and July 2022 and by Oxiteno USA, which has already been fully settled on its maturity in September 2021. As of December 31, 2021 the balances of R$ 163,478 were reclassified to liabilities held for sale.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;">e. </font><font style="font-style: italic; font-weight: bold;">Banco do Brasil</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP has floating interest rate loans with Banco do Brasil in the amount of R$ 204,813 on December 31, 2021, of which R$ 1,646 in charges, intended for marketing, processing, or manufacturing of agricultural goods (ethanol) with maturity in May 2022.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>93</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-style: italic; font-weight: bold;">f. </font><font style="font-style: italic; font-weight: bold;">Debentures</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">1</font> In May 2016 the subsidiary IPP made its fourth issuance of public debentures, in one single series of 500 simple, nominative, registered debentures, nonconvertible into shares and unsecured, which main characteristics are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">May 25, 2021</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annual as from May 2019</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.0% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Subsidiary IPP paid in advance its fourth public issuance of debentures upon maturity.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">2</font> In April 2017 the subsidiary IPP carried out its fifth issuance of debentures, in two series, being one of 660,139 and another of 352,361, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Eco Consult &#8211; Consultoria de Opera&#231;&#245;es Financeiras Agropecu&#225;rias Ltda. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The debentures were later assigned and transferred to Eco Securitizadora de Direitos Credit&#243;rios do Agroneg&#243;cio S.A. that acquired these agribusiness credit rights with the purpose to bind the issuance of Certificates of Agribusiness Receivables (CRA). The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">660,139</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">April 18, 2022</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">95.0% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">352,361</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">April 15, 2024</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">IPCA + 4.68%</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 93.9% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>94</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><i><font lang="EN-US" style="font-size: 9pt;"><br></font></i></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">3</font> In July 2017 the subsidiary IPP made its sixth issuance of public debentures, in one single series of 1,500,000 simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">July 28, 2022</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annual as from July 2021</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">105.0% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annually</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">4</font> In October 2017 the subsidiary IPP carried out its seventh issuance of debentures in the amount of R$ 944,077, in two series, being on of 730,384 and another of 213,693, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Vert Companhia Securitizadora. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The debentures were later assigned and transferred to Vert Cr&#233;ditos Ltda., that acquired these agribusiness credit rights with the purpose to bind the issuance of Certificates of Agribusiness Receivables (CRA). The financial settlement occurred on November 1, 2017. The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; width: 50%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">730,384</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">October 24, 2022</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">95.0% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">213,693</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">October 24, 2024</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">IPCA + 4.34%</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 97.3% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>95</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">5</font> In March 2018 the Company made its sixth issuance of public debentures, in a single series of 1,725,000 simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">March 5, 2023</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">105.25% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.6</font> In December 2018 the subsidiary IPP carried out its eighth issuance of debentures in the amount of R$ 900,000, in two series, being one of 660,000 and another of 240,000, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Vert Companhia Securitizadora. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP. The debentures were subscribed with the purpose to bind the issuance of CRA. The financial settlement occurred on December 21, 2018. The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">660,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">December 18, 2023</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">97.5% of DI</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">240,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">December 15, 2025</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.61%</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Annually</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; width: 212.6pt; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 97.1% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>96</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><i><font lang="EN-US" style="font-size: 9pt;"><br></font></i></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f</font><font style="font-weight: bold;">.7</font> In November 2019 the subsidiary Ultracargo Log&#237;stica made its first issuance of debentures, in a single series of 90,000 simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">November 19, 2024</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6.47%</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary Ultracargo Log&#237;stica contracted hedging instruments subjected interest rate variation, changing the debentures fixed for 99.94% of the DI. Ultracargo Log&#237;stica designated these hedging instruments as fair value hedges therefore debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized in profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 5.65pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f.8</font> In March 2021 the subsidiary Tequimar Vila do Conde made its first issuance of debentures, in a single series of 360,000 simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">March 15, 2028</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">IPCA + 4.04%</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary Tequimar Vila do Conde contracted hedging instruments subjected interest rate variation changing the debentures fixed for 111.4% of the DI. Tequimar Vila do Conde designated these hedging instruments as fair value hedges therefore debentures and hedging instruments are both measured at fair value from inception with changes in fair value recognized in profit or loss.</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 5.65pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f.</font><font style="font-weight: bold;">9</font> In March 2021 the subsidiary Ultracargo Log&#237;stica made its second issuance of debentures, in a single series of 100,000 simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 102px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #cceeff;">
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">March 15, 2028</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">IPCA + 4.37%</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary Ultracargo Log&#237;stica contracted hedging instruments subjected interest rate variation changing the debentures fixed for 111.4% of the DI. Ultracargo Log&#237;stica designated these hedging instruments as fair value hedges therefore debentures and hedging instruments are both measured at fair value from inception with changes in fair value recognized in profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>97</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><i><font lang="EN-US" style="font-size: 9pt;"><br></font></i></p>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">f.10</font> In September 2021, subsidiary IPP carried out its tenth issue of debentures in the total amount of R$ 960,000, in a single series of 960,000 simple, nonconvertible, registered, book-entry and unsecured debentures, privately placed by Vert Companhia Securitizadora. The funds were used exclusively for the purchase of ethanol by the subsidiary IPP. The debentures were subscribed for the purpose to bind the issuance of CRA. The financial settlement ocurred on September 16, 2021. The debentures have an additional guarantee from Ultrapar and the main characteristics are as follows:</font></p>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 50%;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amount:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle; background-color: #cceeff; width: 50%;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">960,000</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">September 15, 2028</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">IPCA + 4.83%</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="padding: 0px 4px 0px 0px; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to the IPCA to 102.75% of the DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The debentures have maturity dates distributed as shown below (includes accrued interest through December 31, 2021):</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 15.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 88%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Charges <font style="vertical-align: super; font-size: 8pt;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 2%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(22,759)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Apr/2022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">660,139</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Jul/2022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">750,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oct/2022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">730,384</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mar/2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,725,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dec/2023</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">660,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Apr/2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">443,944</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oct/2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">267,316</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nov/2024</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">90,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dec/2025</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">287,294</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mar/2028</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">498,474</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sep/2028</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">996,977</font></p>
</td>
</tr>
<tr style="height: 13.5pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,086,769</font></p>
</td>
</tr>

</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="vertical-align: super;"> </font><font style="vertical-align: super; font-size: 7pt;">(1)</font> <font style="font-size: 8pt;">Includes interest, transaction cost and mark to market.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>98</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">g. Notes</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">g</font><font style="font-weight: bold;">.1 </font>In April 2020 the Company made its second public issuance of notes in a single series of 40 commercial notes, not convertible into shares, of unsecured type, whose main characteristics are:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff; width: 50%;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ 25,000,000.00</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">April 6, 2021</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">DI + 3.10%</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Company paid in advance its second public issuance of notes on maturity.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">h. Transaction costs</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Transaction costs incurred in issuing debt were deducted from the value of the related financial instruments and are recognized as an expense according to the effective interest rate method as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 142px; width: 100%;" width="100%">

<tr style="height: 56px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Effective rate of transaction costs (% p.a.)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Incurred cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Reclassification to liabilities held for sale (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 56px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 35%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures (f)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.2</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,348</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">40,953</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,811)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">54,490</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes in the foreign market (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">37,112</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,890)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,204)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,018</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes (g)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,318</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,318)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Banco do Brasil (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(256)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">67,110</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">40,953</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(21,275)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,204)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">82,584</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt;">(i) See Note 3.c.1.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 205px; width: 100%;" width="100%">

<tr style="height: 51px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Effective rate of transaction costs (% p.a.)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Incurred cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 51px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures (f)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.2</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">41,406</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(13,058)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,348</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes in the foreign market (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,114</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,263</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,265)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">37,112</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes (g)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.5</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,802</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,484)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,318</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Banco do Brasil (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">770</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(438)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">332</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign loans (c) </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">94</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(94)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,382</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,382)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">71,766</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">20,065</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(24,721)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">67,110</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>99</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><i><font lang="EN-US" style="font-size: 9pt;"><br></font></i></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The amount to be appropriated to profit or loss in the future is as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 29.25pt; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 22.9167%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Up to 1 year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">1 to 2 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.59314%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2 to 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">3 to 4 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.59314%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.55882%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">4 to 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.59314%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">More than 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; width: 1.47059%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1pt solid #000000; width: 9.80392%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 22.9167%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Debentures (f)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,060</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,129</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,990</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,075</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.55882%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,886</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,350</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.80392%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">54,490</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 22.9167%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notes in the foreign market (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,126</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,128</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,143</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,135</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,897</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,589</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,018</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 22.9167%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Banco do Brasil (e)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.55882%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 22.9167%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 9.68137%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">19,262</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,257</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,133</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">10,210</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.55882%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,783</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.59314%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.68137%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,939</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.47059%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 9.80392%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">82,584</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">i. Guarantees</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The financings does not have guaranteed by collateral as of December 31, 2021 (R$ 75,251 as of December 31, 2020) and has guarantees and promissory notes in the amount of R$ 14,151,506 as of December 31, 2021 (R$ 13,758,033 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Company and its subsidiaries offer collateral in the form of letters of credit for commercial and legal proceedings in the amount of R$ 118,231 as of December 31, 2021 (R$ 129,139 as of December 31, 2020). </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The subsidiary IPP issue collateral to financial institutions in connection with the amounts owed by some of their customers to such institutions (vendor financing) as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">IPP</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Maximum amount of future payments related to these collaterals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">690,347</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">330,944</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Maturities of up to</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">49 months</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">46 months</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Fair value of collaterals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,923</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,496</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">If the subsidiary IPP is required to make any payment under these collaterals, this subsidiary may recover the amount paid directly from its customers through commercial collection. Until December 31, 2021 the subsidiary IPP did not have losses in connection with these collaterals. The fair value of collaterals is recognized in current liabilities as &#8220;other payables&#8221;, which is recognized in the statement of profit or loss as customers settle their obligations with the financial institutions.</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>100</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;"><br></font></font></p>
<p style="margin: 0cm 0cm 0.0001pt; color: #000000; 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: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">18</font><font style="font-weight: bold;">. Trade </font><font style="font-weight: bold;">p</font><font style="font-weight: bold;">ayables</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">a. Trade payables</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 106px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 57%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Domestic suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">26,882</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,870</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,010,912</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,306,398</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Domestic suppliers &#8211; related parties (see Note 9.a.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,422</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,102</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">445,805</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">307,486</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign suppliers - related parties (see Note 9.a.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">212,756</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">126,033</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">26,882</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,870</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,670,895</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,745,019</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Some Company&#8217;s subsidiaries acquire oil-based fuels and LPG from Petrobras and its subsidiaries. These suppliers control almost all the markets for these products in Brazil. </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">b. Trade payables &#8211; reverse factoring</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 96px; width: 100%;" width="100%">

<tr style="height: 17px; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Domestic suppliers &#8211; reverse factoring</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,948,033</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,021,424</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Domestic suppliers &#8211; reverse factoring - related parties (see Note 9.a.2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">89,339</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">61,989</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign suppliers &#8211; reverse factoring</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">81,687</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">212,220</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,119,059</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,295,633</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Some subsidiaries of the Company entered into agreements with a financial institutions. These agreements consist in the anticipation of the receipt of trade payables by the supplier, in which the financial institutions prepay a certain amount from the supplier and receives, on the maturity date the amount payable by the subsidiaries of the Company. The decision to join this type of transaction is solely and exclusively of the supplier. The agreement does not substantially change the main characteristics of the commercial conditions previously established between the subsidiaries of the Company and the suppliers. These transactions are presented in operating activities in the statements of cash flow.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="font-weight: bold;">19. </font><font style="font-weight: bold;">Salaries and </font><font style="font-weight: bold;">r</font><font style="font-weight: bold;">elated </font><font style="font-weight: bold;">c</font><font style="font-weight: bold;">harges</font></font></h1>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 11.35pt; background-color: #ffffff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #ffffff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 57%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Provisions on salaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,671</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,886</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">136,938</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">195,286</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Profit sharing, bonus and premium</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28,061</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">27,779</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">132,390</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">184,306</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Social charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,299</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,632</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">52,739</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">73,267</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,446</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,103</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8,036</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,771</font></p>
</td>
</tr>
<tr style="height: 11.35pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">55,477</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">42,400</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">330,103</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">468,630</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><br></p>
</div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>101</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">20. </font><font style="font-weight: bold;">Taxes </font><font style="font-weight: bold;">p</font><font style="font-weight: bold;">ayable</font></font><br></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 153px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 44%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ICMS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 2%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 2%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 2%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">146,598</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 2%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">180,522</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IPI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,163</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8,952</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PIS and COFINS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">817</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">569</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,667</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">13,187</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ISS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">28</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">49</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">45,533</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">38,328</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Value-added tax (IVA) of foreign subsidiaries </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">27,322</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">251</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">194</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">19,215</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">17,703</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">812</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">229,176</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">286,014</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">21. </font><font style="font-weight: bold;">Employee </font><font style="font-weight: bold;">b</font><font style="font-weight: bold;">enefits and </font><font style="font-weight: bold;">p</font><font style="font-weight: bold;">rivate </font><font style="font-weight: bold;">p</font><font style="font-weight: bold;">ension </font><font style="font-weight: bold;">p</font><font style="font-weight: bold;">lan</font><font style="font-weight: bold;"> </font><font style="font-weight: bold;">(Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">a. </font><font style="font-style: italic; font-weight: bold;">ULTRAPREV</font><font style="font-style: italic; font-weight: bold;"> </font><font style="font-style: italic; font-weight: bold;">- </font><font style="font-style: italic; font-weight: bold;">A</font><font style="font-style: italic; font-weight: bold;">ssocia&#231;&#259;o de </font><font style="font-style: italic; font-weight: bold;">P</font><font style="font-style: italic; font-weight: bold;">revid&#234;ncia </font><font style="font-style: italic; font-weight: bold;">C</font><font style="font-style: italic; font-weight: bold;">omplementar</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In February 2001 the Company&#8217;s Board of Directors approved the adoption of a defined contribution pension plan to be sponsored by the Company and its subsidiaries. Participating employees have been contributing to this plan, managed by Ultraprev - Associa&#231;&#227;o de Previd&#234;ncia Complementar (&#8220;Ultraprev&#8221;), since August 2001. Under the terms of the plan, every year each participating employee chooses his or her basic contribution to the plan. Each sponsoring company provides a matching contribution in an amount equivalent to each basic contribution, up to a limit of 11% of the employee&#8217;s reference salary, according to the rules of the plan. As participating employees retire, they may choose to receive either (i) a monthly sum ranging between 0.3% and 1.0% of their respective accumulated fund in Ultraprev or (ii) a fixed monthly amount, which will exhaust their respective accumulated fund over a period of 5 to 35 years. The Company and its subsidiaries do not take responsibility for guaranteeing amounts or the duration of the benefits received by the retired employee. </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In May 2020 the Deliberative Council of Ultraprev approved the use of the reversion fund in the amount of R$ 47,088, and in May 2021 the additional use&nbsp; of R$ 3,706. The amount of R$ 27,451 was used to deduct the sponsors&#8217; normal contributions and the amount of R$ 3,512 was reclassified to assets held for sale. The balance of R$ 19,831 as of December 31, 2021 will be used to deduct normal sponsor contributions in a period up to 92 months depending on the sponsor. The number of months is estimated according to the current amount being deducted from contributions.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In As of December 31, 2021, the subsidiaries contributed to Ultraprev with R$ 16,368, including the use of the reversion fund of R$ 10,566 (R$ 17,186 including the use of the reversion fund of R$ 7,446 as of December 31, 2020), which is recognized as expense in the income statement. The total number of participating employees as of December 31, 2021 was 4,381 active participants and 387 retired participants. In addition Ultraprev had 23 former employees receiving benefits under the rules of a previous plan whose reserves are fully constituted.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>102</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b. </font><font style="font-style: italic; font-weight: bold;">Post-employment </font><font style="font-style: italic; font-weight: bold;">b</font><font style="font-style: italic; font-weight: bold;">enefits</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiaries recognized a provision for post-employment benefits mainly related to seniority bonus, payment of Government Severance Indemnity Fund (&#8220;FGTS&#8221;), and health, dental care, and life insurance plan for eligible retirees.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The amounts related to such benefits were determined based on a valuation conducted by an independent actuary and reviewed by management as of December 31, 2021.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 161px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 26.0016%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 25.0204%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2.04415%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.0384%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 46.9338%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Health and dental care plan<font style="vertical-align: super; font-size: 8pt;"> (1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11.9379%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2.04415%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.0196%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.96239%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12.0196%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">159,867</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1.96239%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 11.0384%; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">200,318</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Indemnification of FGTS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2.04415%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">38,617</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.0384%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">53,952</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Seniority bonus <font style="vertical-align: super; font-size: 8pt;">(2)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 11.9379%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 2.04415%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,570</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 11.0384%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,336</font></p>
</td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Life insurance <font style="vertical-align: super; font-size: 8pt;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; border-bottom: 1px solid #000000; width: 11.9379%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 2.04415%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; border-bottom: 1px solid #000000; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; border-bottom: 1px solid #000000; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,665</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px; border-bottom: 1px solid #000000; width: 11.0384%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">14,118</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.9379%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 2.04415%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">215,719</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.0384%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">284,724</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2.04415%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">21,082</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.0384%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">27,077</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 46.9338%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2.04415%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,527</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">194,637</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.96239%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.0384%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">257,647</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 2%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
<td style="width: 98%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Only IPP, Tropical and Iconic.</font></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
<td><font style="color: #000000; font-family: 'times new roman', times; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In 2021, there was a change in the seniority bonus policy for retirement, with a reduction in the benefit (Ultragaz and Ipiranga).</font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The change in the present value of the post-employment benefit obligation occurred as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 146px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Opening balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">284,724</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 2%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">272,867</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expense for the year of continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,585</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,622</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expense (revenue) for the year of discontinued operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,951</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,411)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Gain) Losses from changes in actuarial assumptions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(58,954)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">24,822</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Benefits paid directly by Company and its subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(18,400)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(18,969)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Exchange rates from post employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">217</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">793</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification to liabilities held for sale (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(10,404)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ending balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">215,719</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">284,724</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt;">(i) For further information see Note 3.c.1.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The total of expense in each year is presented below:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 98px;" width="100%">

<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 68%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 15%; height: 17px; text-align: center;"><font style="font-weight: bold;">Restated</font></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 68%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Health and dental care plan</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 15%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,265</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 2%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 15%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,127</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Indemnification of FGTS</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,409</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,199</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Seniority bonus</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,886)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,821)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Life insurance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">797</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,117</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,585</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,622</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>103</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The main actuarial assumptions used are:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 119px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Economic factors</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">% p.a.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">% p.a.</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 58%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discount rate for the actuarial obligation at present value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 20%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8.93</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 20%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8.22</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Average projected salary growth rate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7.07</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7.07</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inflation rate (long term)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3.25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3.25</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Growth rate of medical services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7.38</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7.38</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Demographic factors</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mortality Table for the life insurance benefit &#8211; CSO-80</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mortality Table for other benefits &#8211; AT 2000 Basic decreased by 10%</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Disabled Mortality Table &#8211; RRB 1983 and RRB-1944</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Disability Table &#8211; Weak light</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sensitivity analysis</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The significant actuarial assumptions to determine the provision for post-employment benefits are: discount rate, wage and medical costs increases. The following sensitivity analyses on December 31, 2021, as shown below, were determined based on possible changes of assumptions occurring at the reporting date of the financial statements, keeping all other assumptions constant.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 61px; width: 100%;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Assumption</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Change in assumptions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Decrease in liability</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Change in assumptions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Increase in liability</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 37%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discount rate </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 15%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">increase by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 15%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">24,196</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 15%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">decrease by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">24,293</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Wage growth rate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">decrease by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,002</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">increase by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,258</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Medical services growth rate </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">decrease by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">19,218</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">increase by 1.0 p.p.</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">23,522</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The sensitivity analyses presented may not represent the real change in the post-employment benefits obligation, since it is unlikely that changes occur in just one assumption alone, considering that some of these assumptions may be correlated.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inherent risks related to post-employment benefits</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest rate risk: a long-term interest rate is used to calculate the present value of post-employment liabilities. A reduction in this interest rate will increase the corresponding liability.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Wage growth risk: the present value of the liability is calculated using as reference the wages of the plan participants, projected with the average nominal wage growth rate. An increase in the real wages of plan participants will increase the corresponding liability.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Medical costs growth risk: the present value of the liability is calculated using as reference the medical cost by age based on actual healthcare costs, projected based on the growth rate of medical services costs. An increase in the real medical costs will increase the corresponding liability.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>104</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif'; color: #000000;"><font lang="PT-BR" style="font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></div>
<div style="width: 8.5in; margin: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-weight: bold;"><br></font></div>
<div style="width: 8.5in; margin: 0 auto;"><font style="font-size: 10pt; font-weight: bold;">22. </font><font style="font-size: 10pt; font-weight: bold;">Provision for </font><font style="font-size: 10pt; font-weight: bold;">a</font><font style="font-size: 10pt; font-weight: bold;">sset </font><font style="font-size: 10pt; font-weight: bold;">r</font><font style="font-size: 10pt; font-weight: bold;">etirement </font><font style="font-size: 10pt; font-weight: bold;">o</font><font style="font-size: 10pt; font-weight: bold;">bligation &#8211; </font><font style="font-size: 10pt; font-weight: bold;">f</font><font style="font-size: 10pt; font-weight: bold;">uel </font><font style="font-size: 10pt; font-weight: bold;">t</font><font style="font-size: 10pt; font-weight: bold;">anks (Consolidated)</font>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The provision corresponds to the legal obligation to remove the subsidiary IPP&#8217;s underground fuel tanks located at by Ipiranga-branded service stations after a certain use period (see Note 2.o).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Changes in the provision for asset retirement obligation are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 221px;" width="100%">

<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 85%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 15%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">51,242</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additions (new tanks)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">163</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expenditure with tanks removed</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,306)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accretion expense</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6,336</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">53,435</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additions (new tanks)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">451</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expenditure with tanks removed</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,773)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accretion expense</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,598</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">56,711</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,632</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">52,079</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>105</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif'; color: #000000;"><font lang="PT-BR" style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">23</font><font style="font-weight: bold;">. Provisions and contingencies (Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">a. </font><font style="font-style: italic; font-weight: bold;">Provisions for tax, civil, and labor risks</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are parties in tax, civil, environmental, regulatory, and labor disputes at the administrative and judiciary levels, which, when applicable, are backed by escrow deposits. Provisions for losses are estimated and updated by management based on the opinion of the Company&#8217;s legal department and its external legal advisors.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The table below demonstrates the breakdown of provisions by nature and its movement:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 163px;" width="100%">

<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Provisions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Additions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Reversals</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Payments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Interest</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Reclassification to liabilities held for sale (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Balance on 12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 18%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IRPJ and CSLL (a.1.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">547,862</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,966)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,276</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">552,172</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ICMS (c) </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">108,568</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">58,839</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(83,536)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">284</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">84,155</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Civil, environmental and regulatory claims (a.2.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">57,772</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">87,066</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,702)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,116)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">724</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(18,983)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">108,761</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Labor litigation (a.3.1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">90,675</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">42,826</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,432)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(17,068)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,620</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(19,161)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">95,460</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">93,168</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">63</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,457)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">704</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(841)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">91,637</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">898,045</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">188,794</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(106,093)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(25,184)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(38,985)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">932,185</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">43,660</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">119,942</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">854,385</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">812,243</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt;">(i) For further information see Note 3.c.1.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Some of the provisions above involve in whole or in part, escrow deposits.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balances of escrow deposits are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tax matters</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">731,326</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">789,624</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Labor litigation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">48,147</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">57,603</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Civil and others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">91,788</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">102,569</font></p>
</td>
</tr>
<tr style="height: 13.5pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></p>
</td>
<td style="border-bottom: 1px double #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">871,261</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px double #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">949,796</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>106</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR">&nbsp;</font><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">a.1 Provisions for tax matters</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On October 7, 2005 the subsidiaries Cia. Ultragaz and Bahiana filed for and obtained a preliminary injunction to recognize and offset PIS and COFINS credits on LPG purchases, against other taxes levied by the RFB, notably IRPJ and CSLL. The decision was confirmed by a trial court on May 16, 2008. Under the preliminary injunction the subsidiaries made escrow deposits for these debits which amounted to R$ 534,830 as of December 31, 2021 (R$ 523,136 as of December 31, 2020). On July 18, 2014 a second instance unfavorable decision was published, and the subsidiaries suspended the escrow deposits, and started to pay income taxes from that date. To revert the court decision the subsidiaries presented a writ of prevention which was dismissed on December 30, 2014 and the subsidiaries appealed this decision on February 3, 2015. Appeals were also presented to the respective higher courts Superior Court of Justice (&#8220;STJ&#8221;) and Federal Supreme Court (&#8220;STF&#8221;) whose final trial are pending. At the STJ, the issue was subject to the system of Repetitive Appeals (Repetitive Issue No. 1093) and is awaiting judgment by the Superior Court.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">a.2 Provisions for </font><font style="font-style: italic; font-weight: bold;">c</font><font style="font-style: italic; font-weight: bold;">ivil, </font><font style="font-style: italic; font-weight: bold;">e</font><font style="font-style: italic; font-weight: bold;">nvironmental and </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">egulatory </font><font style="font-style: italic; font-weight: bold;">c</font><font style="font-style: italic; font-weight: bold;">laims</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">a.2.1</font> The Company and its subsidiaries maintain provisions for lawsuits and administrative proceedings, mainly derived from contracts entered into with customers and former services providers, as well as proceedings related to environmental and regulatory issues in the amount of R$ 108,761 as of December 31, 2021 (R$ 57,772 as of December 31, 2020). The increase seen during the year is due to the risk classification due to unfavorable decisions in several lawsuits received by the subsidiary Ipiranga.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">a.3 Provisions for labor matters</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">a.3.1</font> The Company and its subsidiaries maintain provisions of R$ 95,460 as of December 31, 2021 (R$ 90,675 as of December 31, 2020) for labor litigation filed by former employees and by employees of our service providers mainly contesting the non-payment of labor rights. The increase seen during the year is due to the risk classification due to unfavorable decisions in several lawsuits received by the subsidiary Ipiranga.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Contingent </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">iabilities</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are parties in tax, civil, environmental, regulatory, and labor claims whose loss is assessed as possible (proceedings whose chance of loss is more than 25% and less or equal than 50%) by the Company and its subsidiaries&#8217; legal departments, based on the opinion of its external legal advisors and, based on these assessments, these claims were not recognized in the financial statements. The estimated amount of this contingency is R$ 3,310,603 as of December 31, 2021 (R$ 3,236,982 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b.1 Contingent </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">iabilities for </font><font style="font-style: italic; font-weight: bold;">t</font><font style="font-style: italic; font-weight: bold;">ax </font><font style="font-style: italic; font-weight: bold;">m</font><font style="font-style: italic; font-weight: bold;">atters and </font><font style="font-style: italic; font-weight: bold;">s</font><font style="font-style: italic; font-weight: bold;">ocial </font><font style="font-style: italic; font-weight: bold;">s</font><font style="font-style: italic; font-weight: bold;">ecurity </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries have contingent liabilities for tax matters and social security in the amount of R$ 2,292,465 as of December 31, 2021 (R$ 2,419,000 as of December 31, 2020), mainly represented by:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.1.1</font> The subsidiary IPP and its subsidiaries have assessments invalidating the offset of excise tax (&#8220;IPI&#8221;) credits in connection with the purchase of raw materials used in the manufacturing of products which sales are not subject to IPI under the protection of tax immunity. The amount of this contingency is R$ 178,422 as of December 31, 2021 (R$ 176,390 as of December 31, 2020).</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>107</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.1.2</font> The subsidiary IPP and its subsidiaries have legal proceedings related to ICMS. The total amount involved in these proceedings, was R$ 1,303,383 as of December 31, 2021 (R$ 958.134 as of December 31, 2020). Such proceedings arise mostly of the disregard of ICMS credits amounting to R$ 209,611 as of December 31, 2021 (R$ 300,707 as of December 31, 2020), of which R$ 15,532 (R$ 92,687 as of December 31, 2020) refer to proportional reversal requirement of ICMS credits related to the acquisition of hydrated alcohol; of alleged non-payment in the amount of R$ 106,590 as of December 31, 2021 (R$ 98,157 as of December 31, 2020); of conditioned fruition of fiscal incentive in the amount of R$ 174,039 as of December 31, 2021 (R$ 119,894 as of December 31, 2020); of inventory differences in the amount of R$ 295,163 as of December 31, 2021 (R$ 269,581 as of December 31, 2020); and of fiscal equilibrium fund required by States to fruition tax benefits in the amount of R$ 59,128 and a 2% surcharge on products considered non-essential (hydrated ethanol) in the amount of R$ 219,218.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.1.</font><font style="font-weight: bold;">3</font> The Company and its subsidiaries are parties to administrative and judicial suits involving Income Tax, Social Security Contribution, PIS and COFINS, substantially about denials of offset claims and credits disallowance which total amount is R$ 578,097 as of December 31, 2021 (R$ 709,338 as of December 31, 2020), mainly represented by:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.1.</font><font style="font-weight: bold;">3</font><font style="font-weight: bold;">.1</font><font style="font-weight: bold;"> </font>The subsidiary IPP received a tax assessment related to the IRPJ and CSLL resulting from the supposedly undue amortization of the goodwill paid on acquisition of a subsidiary, in the amount of R$ 218,589 as of December 31, 2021 (R$ 212,350 as of December 31, 2020), which includes the amount of the income taxes, interest and penalty. </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b.2 Contingent </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">iabilities for </font><font style="font-style: italic; font-weight: bold;">c</font><font style="font-style: italic; font-weight: bold;">ivil, </font><font style="font-style: italic; font-weight: bold;">e</font><font style="font-style: italic; font-weight: bold;">nvironmental and </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">egulatory </font><font style="font-style: italic; font-weight: bold;">c</font><font style="font-style: italic; font-weight: bold;">laims </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries have contingent liabilities for civil, environmental and regulatory claims in the amount of R$ 771,695 as of December 31, 2021 (R$ 561,713 as of December 31, 2020), mainly represented by:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.2.1</font> The subsidiary Cia. Ultragaz is party to an administrative proceeding before CADE based on alleged anti-competitive practices in the State of Minas Gerais in 2001. The CADE entered a decision against Cia. Ultragaz and imposed a penalty of R$ 34,162 as of December 31, 2021 (R$ 33,895 as of December 31, 2020). The imposition of such administrative decision was suspended by a court order and its merit is being judicially reviewed.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.2.2</font><font style="font-style: italic; font-weight: bold;"> </font>The subsidiary Cia. Ultragaz has lawsuits totaling the amount of R$ 233,426 (R$ 186,381 on December 31, 2020) filed by resellers seeking the declaration of nullity and termination of distribution contracts, in addition to indemnities for losses and damages.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.2.3</font><font style="font-weight: bold;"> </font>The subsidiary IPP became party to an administrative proceeding filed by CADE, related to allegations of anti-competitive practices in the Distrito Federal which was established in June 2020, arising from a preliminary investigation started in 2009. IPP has already presented its defense and the proceeding is in the evidentiary stage. In 2019 and 2020, IPP received two fines in the amount of R$ 40,693 and R$ 8,187, for allegedly influencing uniform commercial conduct among fuel resellers around the city of Belo Horizonte, state of Minas Gerais and in Joinville, Santa Catarina. The IPP submitted both decisions to judicial review and in both cases decisions were issued suspending the enforceability of fines due to the judicial guarantees presented. External lawyers classify the likelihood of loss as remote in these cases.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>108</font></font></td>
</tr>

</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">b.2.</font><font style="font-weight: bold;">4</font> On November 29, 2016 a technical opinion was issued by the Operational Support Center for Execution (Centro de Apoio Operacional &#224; Execu&#231;&#227;o &#8211; CAEX), a technical body linked to the S&#227;o Paulo State Public Prosecutor (&#8220;MPE&#8221;), presenting a proposal of compensation for the alleged environmental damages caused by the fire on April 2<font style="vertical-align: super;">nd</font>, 2015 at the Santos Terminal of the subsidiary Ultracargo Log&#237;stica. This technical opinion is non-binding, with no condemnatory or sanctioning nature, and will still be evaluated by the authorities and parties. The subsidiary disagrees with the methodology and the assumptions adopted in the proposal and is negotiating an agreement with the MPE and the Brazilian Federal Public Prosecutor (&#8220;MPF&#8221;), since the beginning of the investigation and currently there is no civil lawsuit filed on the matter. The negotiations relate to <font style="font-style: italic;">in natura</font> repair of the any damages. Thus, on May 15, 2019, the subsidiary Ultracargo Log&#237;stica signed a Partial Conduct Adjustment Commitment Agreement (&#8220;TAC&#8221;) in the amount of R$ 67,539 with the MPE and MPF to compensate for diffuse and collective damages of any kind arising from the fish mortality and the damage caused to the ichthyofauna. The negotiation on compensation for other alleged damages are still ongoing and once concluded, the payments related to the project costs may affect the future Company&#8217;s financial statements.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the criminal sphere, the MPF denounced the subsidiary Ultracargo Log&#237;stica, which was summoned and replied to the complaint on June 19, 2018. On September 12, 2019, at a hearing in the federal court of Santos, the MPF and Ultracargo Log&#237;stica agreed, and the judicial authority approved, the conditional suspension of the criminal proceedings for a period of 2 years, when Ultracargo Log&#237;stica shall then prove compliance with the execution of the Partial TAC signed, with the obligation of a complementary allocation of R$ 13,000 to TAC and the Fisheries Management Project, to obtain the definitive filing of the process. On February 4, 2021, the subsidiary paid the remaining balance referring to the TAC, without pending and/or additional financial obligation arising from such commitment assumed. In addition, as of December 31, 2021, there are contingent liabilities not recognized related to lawsuits in the amount of R$ 2,022 (R$ 4,428 as of December 31, 2020). Between December 31, 2020 and December 31, 2021, there were not extrajudicial claims.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b.3 Contingent </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">iabilities for </font><font style="font-style: italic; font-weight: bold;">l</font><font style="font-style: italic; font-weight: bold;">abor </font><font style="font-style: italic; font-weight: bold;">m</font><font style="font-style: italic; font-weight: bold;">atters </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries have contingent liabilities for labor matters in the amount of R$ 246,443 as of December 31, 2021 (R$ 256,269 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">c.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Lubricants operation between IPP and Chevron</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the process of transaction of the lubricants' operation in Brazil between Chevron and subsidiary IPP (see Note 4.c of Financial Statements filed on CVM February 20, 2019), it was agreed that each shareholder is responsible for any claims arising out of acts, facts or omissions that occurred prior to the transaction. The liability provisions of the Chevron shareholder in the amount of R$ 19,724 (R$ 101,663 as of December 31, 2020) are reflected in the consolidation of these financial statements. Additionally, in connection with the business combination, a provision in the amount of R$ 198,900 was recognized on December 1, 2017 due contingent liabilities, amounted to R$ 101,267 as of December 31, 2021 (R$ 102,777 as of December 31, 2020. The amounts of provisions of Chevron's liability recognized in the business combination will be reimbursed to subsidiary Iconic in the event of losses and an indemnity asset was hereby constituted in the same amount, without the need to establish a provision for uncollectible amounts.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Part of the provision of the Chevron related to the ICMS tax assessment (R$ 81,060), for the period from July 1996 to December 1997, was definitively extinguished through the payment</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>109</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">made by the Chevron in the tax amnesty program, established by the Agreement ICMS/RJ No. 51/2020 (Decree/RJ No. 47,332/2020 and State Law of RJ No. 9,041/2020) on April 16, 2021.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The value of the provision of the Chevron in the amount of R$ 19,724, refers to: (i) R$ 17,231 ICMS assessments on sales for industrial purposes, in which the STF closed the judgment of the thesis unfavorably to taxpayers; (ii) R$ 2,207 labor claims and (iii) R$ 285 civil, regulatory and environmental claims.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">24</font><font style="font-weight: bold;">. </font><font style="font-weight: bold;">Deferred </font><font style="font-weight: bold;">r</font><font style="font-weight: bold;">evenue (Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiaries of the Company have recognized the following deferred revenue:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8216;am/pm&#8217; and Jet Oil franchising upfront fee (a)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">420</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 2%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">814</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loyalty program &#8220;Km de Vantagens&#8221; (b)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,205</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,424</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loyalty program &#8220;Clube Extrafarma&#8221; (b)</font></p>
</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,044</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total current</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,625</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">18,282</font></p>
</td>
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</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">a. </font><font style="font-style: italic; font-weight: bold;">Franchising </font><font style="font-style: italic; font-weight: bold;">u</font><font style="font-style: italic; font-weight: bold;">pfront </font><font style="font-style: italic; font-weight: bold;">f</font><font style="font-style: italic; font-weight: bold;">ee</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif; color: #000000;"><font lang="EN-US" style="font-size: 10pt;">am/pm is the convenience stores chain of the Ipiranga service stations and on December 31, 2021 had 8 stores with initial deferred franchising upfront fee as the requirements for recognition in income have not yet been met (20 stores as of December 31, 2020). In 2021, 90 stores were opened in total (58 stores opened in 2020).</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif; color: #000000;"><font lang="EN-US" style="font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif; color: #000000;"><font lang="EN-US" style="font-size: 10pt;">Jet Oil is the network specialized in oil changes and automotive services at Ipiranga gas stations and as of December 31, 2021, it had 8 stores opened with initial deferred franchise upfront fee as the requirements for recognition in income have not yet been met (4 stores as of December 31, 2020). In 2021, 45 stores were opened in total (45 stores opened in 2020). </font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif; color: #000000;"><font lang="EN-US" style="font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0cm; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', serif; color: #000000;"><font lang="EN-US"><font style="font-size: 10pt;">For more information on the deferred income from the initial franchise fee see Note 2.a.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font><font style="font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>110</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="PT-BR">&nbsp;</font><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b. </font><font style="font-style: italic; font-weight: bold;">Loyalty </font><font style="font-style: italic; font-weight: bold;">p</font><font style="font-style: italic; font-weight: bold;">rogram</font><font style="font-style: italic; font-weight: bold;">s</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The loyalty program called KM de Vantagens <font style="text-decoration: underline;">(www.kmdevantagens.com.br</font>) under which registered customers are rewarded with points when they buy products in several partners, including the Ipiranga&#8217;s service station, was transferred to Abastece a&#237; (www.abasteceai.com.br). The subsidiary IPP remains a partner in the program, offering cashback to its customers based on the limits negotiated under the terms of the partnership, where, after the customer meet the requirements for the right to the benefit, Abastece a&#237; immediately credits the amount to the customer's virtual wallet and charges IPP, which reimburses Abastece a&#237; and recognizes the same amount as reduction in sales. At the end of each year, the subsidiary IPP assesses the points available to its customers with the potential to become cashback in future years and recognizes such probability as deferred income.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Subsidiary Extrafarma has a loyalty program called Clube Extrafarma (<font style="text-decoration: underline;">www.club</font><font style="text-decoration: underline;">e</font><font style="text-decoration: underline;">extra</font><font style="text-decoration: underline;">farma</font><font style="text-decoration: underline;">.com.br</font>) under which registered customers are rewarded with points when they buy products at its drugstore chain. The customers may exchange these points, during the period of six months, for discounts in products at its drugstore chain, recharge credit on a mobile phone, and prizes offered by partners Multiplus Fidelidade and Ipiranga, through Km de Vantagens. Points received by Extrafarma&#8217;s customers are recognized as a reduction of revenue from sales and services. On December 31, 2021, the balance in the amount of R$ 927 was reclassified to a liability held for sale.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred revenue is estimated based on the fair value of the points granted, considering the value of the prizes and the expected redemption of these points. For more information on deferred revenue from loyalty program, see Note 2.a.</font></p>
<p style="margin: 0pt; text-align: right;"><br></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<p><br></p>
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<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">25</font><font style="font-weight: bold;">.</font><font style="font-weight: bold;">&nbsp;</font><font style="font-weight: bold;">Subscription </font><font style="font-weight: bold;">w</font><font style="font-weight: bold;">arrants &#8211; </font><font style="font-weight: bold;">i</font><font style="font-weight: bold;">ndemnification</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Because of the association between the Company and Extrafarma on January 31, 2014, 7 subscription warrants &#8211; indemnification could be issued, corresponding to up to 6,411,244 shares of the Company. The subscription warrants &#8211; indemnification may be exercised beginning 2020 by the former shareholders of Extrafarma and are adjusted according to the changes in the amounts of provisions for tax, civil, and labor risks and contingent liabilities related to the period prior to January 31, 2014. The subscription warrants &#8211; indemnification&#8217;s fair value is measured based on the share price of Ultrapar (UGPA3) and is reduced by the dividend yield until 2020, since the exercise is possible only from 2020, and they are not entitled to dividends while they are not converted into shares.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On February 19, 2020, August 12, 2020, February 24, 2021 and August 11, 2020, the Company&#8217;s Board of Directors confirmed, the issuance of, respectively, 2,108,542, 86,978, 70,939 and 31,032 common shares within the authorized capital limit provided by the art. 6 of the Bylaws, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company when the merger of all Extrafarma shares by the Company, approved by the extraordinary general meeting of the Company held in January 31, 2014.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the association agreement between the Company and Extrafarma on January 31, 2014 and due to the unfavorable decisions of some processes with triggering events prior to January 31, 2014, 578,538 shares linked to the subscription warrants &#8211; indemnification were canceled and not issued. On December 31, 2021, 3,527,934 shares were retained linked to subscription warrants &#8211; indemnification which will be issued or canceled according as the final decision of the processes are favorable or unfavorable, respectively, being this the maximum number of shares that can be issued in the future, totaling R$ 51,296 (R$ 86,439 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">26. </font><font style="font-weight: bold;">Equity</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">a. Share </font><font style="font-style: italic; font-weight: bold;">c</font><font style="font-style: italic; font-weight: bold;">apital</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021 the subscribed and paid-in capital stock consists of 1,115,107,683 (1,115,005,712 as of December 31, 2020) common shares with no par value and the issuance of preferred shares and participation certificates is prohibited.&nbsp;Each common share entitles its holder to one vote at Shareholders&#8217; Meetings.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The price of the outstanding shares as of December 31, 2021, on B3 was R$ 14.54 (R$ 23.74 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On February 19, 2020, August 12, 2020, February 24, 2021 and August 11, 2021, the Board of Directors confirmed the issuance of 2,108,542, 86,978, 70,939 and 31,032 common shares, respectively, with the same rights attributed to the other shares of the Company already issued, due to the partial exercise of the rights conferred by the subscription warrants &#8211; indemnification into shares by the Company in the merger of Extrafarma shares. For more information on the changes in share capital, see Note 25.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021 there were 50,374,275 common shares outstanding abroad in the form of ADRs (47,413,094 shares as of December 31, 2020).</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
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<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">b.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Equity instrument granted</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a share-based incentive plan, which establishes the general terms and conditions for the concession of common shares issued by the Company held in treasury (see Note 9.c).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">c.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Treasury </font><font style="font-style: italic; font-weight: bold;">s</font><font style="font-style: italic; font-weight: bold;">hares</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company acquired its own shares at market prices, without capital reduction, to be held in treasury and to be subsequently disposed of or cancelled, in accordance with CVM Instructions 10, issued on February 14, 1980 and 268, issued on November 13, 1997. </font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, 23,756,393 common shares (24,739,626 as of December 31, 2020) were held in the Company's treasury, acquired at an average cost of R$ 18.13.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">d.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Capital </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">eserve </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The capital reserve reflects the gain on the transfer of shares at market price used in the Deferred Stock Plan granted to executives of the subsidiaries of the Company, as mentioned in Note 9.c.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Because of Extrafarma&#8217;s association in 2014 the Company recognized an increase in the capital reserves in the amount of R$ 498,812, due to the difference between the value attributable to share capital and the market value of the Ultrapar shares on the date of issuance, deducted by R$ 2,260 related to the incurred costs directly attributable to issuing new shares. Additionally, on February 19, 2020, August 12, 2020, February 24, 2021 and August 11, 2021, there was an increase in the reserve in the amount of R$ 53,072, R$ 1,691, R$ 1,371 and R$ 448, respectively, due to the partial exercise of the subscription warrants &#8211; indemnification (see note 25).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">e.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Revaluation </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">eserve</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The revaluation reserve, recognized prior to the adoption of the international accounting standards (CPC / IFRS) instituted by Law 11,638/07, reflects the revaluation of assets of subsidiaries and is based on depreciation, write-off, or disposal of the revalued assets of the subsidiaries, as well as the tax effects recognized by these subsidiaries.</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">f.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Profit </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">eserves</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">f.1 </font><font style="font-style: italic; font-weight: bold;">Legal </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">eserve</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under Brazilian Corporate Law, the Company is required to allocate 5% of net annual earnings to a legal reserve, until the balance reaches 20% of share capital. As of December 31, 2021, the legal reserve totaled R$ 791,083 (R$ 750,010 as of December 31, 2020). This reserve may be used to increase capital or to absorb losses but may not be distributed as dividends.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">f.</font><font style="font-style: italic; font-weight: bold;">2</font><font style="font-style: italic; font-weight: bold;"> </font><font style="font-style: italic; font-weight: bold;">Investments </font><font style="font-style: italic; font-weight: bold;">r</font><font style="font-style: italic; font-weight: bold;">eserve</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In compliance with Article 194 of the Brazilian Corporate Law and Article 54.b) of the Bylaws this reserve is aimed to protect the integrity of the Company&#8217;s assets and to supplement its capital stock, in order to allow new investments to be made. As provided in its Bylaws, the Company may allocate up to 50% of the annual net income, after deducting the legal reserve, to the investments reserve, up to the limit of 100% of the share capital.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The investments reserve is free of distribution restrictions and totaled R$ 4,073,876 as of December 31, 2021 (R$ 3,658,265 as of December 31, 2020).</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">g.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Other comprehensive income</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">g.1 </font><font style="font-style: italic; font-weight: bold;">Valuation </font><font style="font-style: italic; font-weight: bold;">a</font><font style="font-style: italic; font-weight: bold;">djustments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 102px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 97%;"><font lang="PT-BR" style="font-size: 11.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: Calibri; mso-ansi-language: PT-BR; mso-fareast-language: EN-US; mso-bidi-language: AR-SA; mso-no-proof: yes;">Gains and losses on the hedging instruments of exchange rate related to firm commitment and highly probable transactions designated as cash flows hedges are recognized in equity as &#8220;valuation adjustments&#8221;. Gains and losses are reclassified to initial cost of non-financial assets recognized in statements of profit or loss at the moment of paid off of the hedge instrument.</font></td>
</tr>
<tr style="height: 34px;">
<td style="height: 34px; width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="height: 34px; width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The differences between the fair value of financial investments measured at fair value through other comprehensive income and the initial amount of financial investments plus the earned income and the foreign currency exchange variation are recognized in equity as valuation adjustments. Gains and losses are reclassified to statements of profit or loss when the financial investment is paid off.</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font><font style="color: #000000; font: 13.3333px 'times new roman', times; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="height: 17px; width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Actuarial gains and losses relating to post-employment benefits, calculated based on a valuation conducted by an independent actuary, are recognized in equity under the title &#8220;valuation adjustments&#8221;. Actuarial gains and losses recorded in equity are not reclassified to profit or loss in subsequent periods.</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</font></td>
<td style="height: 17px; width: 97%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -28.4px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company also recognizes in this item the effect of changes in the non-controlling interest in subsidiaries that do not result in loss of control. This amount corresponds to the difference between the amount by which the non-controlling interest was adjusted and the fair value of the consideration received or paid and represents a transaction with shareholders.</font></td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>114</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance and changes in valuation adjustments of the Company are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 208px; width: 100%;" width="100%">

<tr style="height: 55px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Fair value of cash flow hedging instruments (i)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Fair value of financial instruments (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Actuarial (loss) gain of post-employment benefits (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Non-controlling shareholders interest change (iv)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 55px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 27%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2019</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(296,132)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">205</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(47,759)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">197,369</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 2%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 13%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(146,317)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Changes in fair value of financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(477,570)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">64</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(477,506)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IRPJ and CSLL on fair value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">164,425</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">164,425</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Actuarial loss of post-employment benefits</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,725)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,725)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income and social contribution taxes on actuarial losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,133</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2,133</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(609,277)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">269</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(53,351)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">197,369</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(464,990)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Changes in fair value of financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">12,036</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(672)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">11,364</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IRPJ and CSLL on fair value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,060)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,060)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Actuarial gain of post-employment benefits of subsidiaries, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">49,550</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">49,550</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IRPJ and CSLL on actuarial gains</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,002)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,002)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(601,301)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(403)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(17,803)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">197,369</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(422,138)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">g.2 </font><font style="font-style: italic; font-weight: bold;">Cumulative </font><font style="font-style: italic; font-weight: bold;">t</font><font style="font-style: italic; font-weight: bold;">ranslation </font><font style="font-style: italic; font-weight: bold;">a</font><font style="font-style: italic; font-weight: bold;">djustments</font><font style="font-style: italic; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The change in exchange rates on assets, liabilities, and income of foreign subsidiaries that have functional currency other than the presentation currency of the Company and an independent management (see Note 2.t.1) and the exchange rate variation on notes in the foreign market, net of income taxes (see Note 34.h.3) is directly recognized in the equity. This cumulative effect is reflected in profit or loss as a gain or loss only in case of disposal or write-off of the investment.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance and changes in cumulative translation adjustments of the Company are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 89px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Initial balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">231,596</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 2%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">102,427</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Currency translation adjustment of foreign subsidiaries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">97,113</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">202,277</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of foreign currency exchange rate variation on financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(36,461)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(110,770)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">IRPJ and CSLL on foreign currency exchange rate variation on financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">12,397</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">37,662</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Final balance</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">304,645</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">231,596</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>115</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">h.</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">&nbsp;</font><font style="font-style: italic; font-weight: bold;">Dividends and </font><font style="font-style: italic; font-weight: bold;">a</font><font style="font-style: italic; font-weight: bold;">llocation of </font><font style="font-style: italic; font-weight: bold;">n</font><font style="font-style: italic; font-weight: bold;">et </font><font style="font-style: italic; font-weight: bold;">i</font><font style="font-style: italic; font-weight: bold;">ncome</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The shareholders of the Company are entitled under the Bylaws to a minimum annual dividend of 50% of adjusted net income, after allocation of 5% to the legal reserve, calculated in accordance with Brazilian Corporate Law. The dividends and interest on equity in excess of the obligation established in the Bylaws are recognized in equity until the Shareholders approve them. The proposed dividends payable that refers of the exercise of 2020, the amount of which on as of December 31, 2020 totaled R$ 479,748 (R$ 0.44 &#8211; forty-four cents of Brazilian Real per share), were approved by the Board of Directors on February 24, 2021, and were paid from March 12, 2021. On August 11, 2021, the interim dividends were approved in the amount of R$ 218,074 (R$ 0.20 &#8211; twenty cents per share), paid on August, 2021.The proposed dividends payable that refers of the exercise of 2021, the amount of which on as of December 31, 2021 totaled R$ 185,896 (R$ 0,17 &#8211; seventeen cents of Brazilian Real per share), were approved by the Board of Directors on February 22, 2022, and will be paid from March 11, 2022 onwards.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The management proposal for the allocation of net income for 2021 and for distribution of dividends is as follow:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 289px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 85%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Allocation of net income </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 15%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income for the year attributable to</font> shareholders<font style="font-family: 'times new roman', times; font-size: 10pt;"> of Ultrapar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">850,463</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Legal reserve (5% of the net income)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">42,523</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Adjusted net income (basis for dividends)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">807,940</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Minimum mandatory dividends for the year (50% of the adjusted net income)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">403,970</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total of distribution</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">403,970</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interim dividends (R$ 0.20 per share of the Company)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(218,074)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance of proposed dividends (R$ 0.17 per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">185,896</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Allocation of dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Minimum mandatory dividends for the year (50% of the adjusted net income)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">185,896</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance of proposed dividends (R$ 0.17 per share)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">185,896</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Allocation of net income </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Legal reserve (5% of the net income)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">42,523</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Minimum mandatory dividends for the year (50% of the adjusted net income)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">403,970</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Statutory reserve</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">403,970</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total distribution of net income for the year attributable to shareholders of Ultrapar</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;">850,4<font style="font-family: 'times new roman', times; font-size: 10pt;">63</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>116</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balances and changes in dividends payable are as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 153px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">439,094</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 2%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">442,133</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Provisions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">459,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">478,366</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prescribed dividends</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(10,487)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(11,816)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(694,406)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(705,753)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification to liabilities of subsidiaries held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(70)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Balance as of December 31, 2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">193,564</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">202,860</font></p>
</td>
</tr>

</table>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">27</font><font style="font-weight: bold;">. </font><font style="font-weight: bold;">Net </font><font style="font-weight: bold;">r</font><font style="font-weight: bold;">evenue from </font><font style="font-weight: bold;">s</font><font style="font-weight: bold;">ale and </font><font style="font-weight: bold;">s</font><font style="font-weight: bold;">ervices (Consolidated)</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 188px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; text-align: center;" valign="middle"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Restated(i)</font></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross revenue from sale:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 68%;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Merchandise</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">113,679,771</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 2%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 15%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">78,571,971</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross revenue from services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">997,114</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">884,570</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discounts and sales returns</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,351,464)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,812,144)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amortization of contractual assets with customers (see Note 12)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(282,521)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(289,436)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">10,614</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9,814</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">113,053,514</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">77,364,775</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,320,672)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,306,719)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenue</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">109,732,842</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;">74,058,056</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 8pt;">(i) For further details, see Note 3.c.3.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>117</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify; line-height: 1.1;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; line-height: inherit;"><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">28. Costs and e</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">xpenses by </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">n</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ature</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company presents its </font><font style="font-family: 'Times New Roman';">costs and </font><font style="font-family: 'Times New Roman';">expenses by function in the consolidated statement </font><font style="font-family: 'Times New Roman';">of profit or loss </font><font style="font-family: 'Times New Roman';">and presents below its expenses by nature:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 302px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; width: 10%; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Raw materials and materials for use and consumption</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8208;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104,233,143</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,851,960</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Personnel expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">175,933</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">153,338</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,575,066</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,414,567</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Freight and storage</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">899,188</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,073,971</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Depreciation and amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,936</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,775</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">653,118</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">595,531</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,093</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,690</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">260,716</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">242,670</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Advertising and marketing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">312</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">106,352</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">143,694</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Services provided by third parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104,039</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,030</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">399,904</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">184,532</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,885</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">101,819</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">139,379</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Allocation of SSC/Holding expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(294,386)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(221,030)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,927</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,229,306</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,646,304</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Classified as:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104,827,966</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">70,056,447</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling and marketing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,934,789</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,595,871</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,927</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,466,551</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">993,986</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,927</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,229,306</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">72,646,304</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">29. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Gain (loss) on </font><font style="font-family: 'Times New Roman'; font-weight: bold;">d</font><font style="font-family: 'Times New Roman'; font-weight: bold;">isposal of </font><font style="font-family: 'Times New Roman'; font-weight: bold;">PP&amp;E</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ntangibles</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">(Consolidated)</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">gain or loss </font><font style="font-family: 'Times New Roman';">is determined as the difference between the selling price and residual book value of the investment, </font><font style="font-family: 'Times New Roman';">PP&amp;E</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman';"> intangible asset. </font><font style="font-family: 'Times New Roman';">In</font><font style="font-family: 'Times New Roman';"> 2021 </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">gain</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">was R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">184,189</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(gain of R$ </font><font style="font-family: 'Times New Roman';">85</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">455</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman';"> 2020</font><font style="font-family: 'Times New Roman';"> &#8211; restated</font><font style="font-family: 'Times New Roman';">), represented primarily from </font><font style="font-family: 'Times New Roman';">sale </font><font style="font-family: 'Times New Roman';">of Conectcar and </font><font style="font-family: 'Times New Roman';">o</font><font style="font-family: 'Times New Roman';">f PP&amp;E.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>118</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">3</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">0</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Other </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">o</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">perating </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">ncome, </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">n</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">et (Consolidated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 75%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial partnerships </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,511</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,469</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Merchandising </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,144</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,703</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extraordinary tax credits </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">213,183</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">136,561</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Property rental </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(4)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">26,026</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,825</font></p>
</td>
</tr>
<tr style="height: 22.7pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Revenue from miscellaneous services (administrative, commercial and IT services)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">96,742</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91,726</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Contractual fine and gas voucher</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,685</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">40,898</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,416</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 0.5px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">445,836</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 0.5px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">321,385</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating expenses, net:</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Property rental </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(4)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(116,744)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(92,117)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Taxes on other operating income </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(5)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(23,416)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(24,929)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fines for tax infractions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,702)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,692)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decarbonization obligation </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(6)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(161,281)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(124,287)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,527)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,326)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(349,670)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(257,351)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">96,166</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">64,034</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 141px;">

<tr style="height: 24px;">
<td style="width: 2.85784%; height: 24px; padding: 1px 1px 10px;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></sup></font></td>
<td style="width: 97.1422%; height: 24px; padding: 1px 1px 10px;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to contracts with service providers and suppliers</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;which establish trade agreements&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">for</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;convenience stores and gas stations.</font></font></td>
</tr>
<tr style="height: 23px;">
<td style="height: 23px; padding: 1px 1px 10px; width: 2.85784%;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="height: 23px; padding: 1px 1px 10px; width: 97.1422%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to contracts with suppliers of convenience stores</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">which establish, among other agreements, promotional campaigns.</font></font></td>
</tr>
<tr style="height: 24px;">
<td style="height: 24px; padding: 1px 1px 10px; width: 2.85784%;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></sup></font></td>
<td style="height: 24px; padding: 1px 1px 10px; width: 97.1422%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;substantially</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">PIS and COFINS&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">credits (see Note&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.a.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">registered</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;on&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">calendar year 2021</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr style="height: 23px;">
<td style="height: 23px; padding: 1px 1px 10px; width: 2.85784%;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</font></sup></font></td>
<td style="height: 23px; padding: 1px 1px 10px; width: 97.1422%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Refers to&nbsp;Ipiranga&#8217;s&nbsp;income and e</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">xpenses&nbsp;with property rentals</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and sublease</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, especially for establishment of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">own&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">gas stations,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;linked to contractual requirements for the preservation of the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">b</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">rand.</font></font></td>
</tr>
<tr style="height: 24px;">
<td style="height: 24px; padding: 1px 1px 10px; width: 2.85784%;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</font></sup></font></td>
<td style="height: 24px; padding: 1px 1px 10px; width: 97.1422%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers substantially to ICMS, ISS, PIS and COFINS.</font></td>
</tr>
<tr style="height: 23px;">
<td style="height: 23px; padding: 1px 1px 10px; width: 2.85784%;"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(6)</font></sup></font></td>
<td style="height: 23px; padding: 1px 1px 10px; width: 97.1422%;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the obligation adopted by the&nbsp;</font>RenovaBio<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;to set&nbsp;</font>decarbonization<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;targets for its sector.</font></font></td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 108%; margin: 2pt 0pt 8pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>119</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">31</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Financ</font><font style="font-family: 'Times New Roman'; font-weight: bold;">e</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ncome (Expense)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 306px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Parent</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Consolidated</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated (i)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 57%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on financial investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34,690</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,749</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">101,326</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">93,667</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest from customers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">109,999</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">132,155</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Changes in subscription warrants &#8211; indemnification (see Note 25)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,180</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">33,180</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selic interest on extraordinary PIS/COFINS credits (see Note 8.a.3)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">201,795</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">121,565</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other finance income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">444</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">273</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,854</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,279</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">68,314</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,022</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">460,154</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">357,666</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expenses:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on loans</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(14,801)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,503)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(410,430)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(337,324)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(80,241)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(53,960)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(306,539)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(321,656)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3,220)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,238)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(110,878)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(109,318)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Bank charges, financial transactions tax, and other charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,430)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,853)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(70,801)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(46,878)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Exchange variation, net of gains and losses with derivative financial instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(239,106)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(58,944)</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Changes in subscription warranty &#8211; indemnification (see Note 25)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,353)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,353)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest of provisions and other expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(85,132)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(16,541)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(99,692)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(120,907)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,222,886)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(908,014)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income (expense)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(31,378)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(77,885)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(762,732)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(550,348)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-size: 9pt;">(i)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">For further details, see Note 3.c.3.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>120</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><br></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">2. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Earnings per </font><font style="font-family: 'Times New Roman'; font-weight: bold;">s</font><font style="font-family: 'Times New Roman'; font-weight: bold;">hare (Parent and Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents a reconciliation of numerators and denominators used in computing earnings per share. The Company has a deferred stock plan</font><font style="font-family: 'Times New Roman';"> and subscription warrants </font><font style="font-family: 'Times New Roman';">&#8211;</font><font style="font-family: 'Times New Roman';"> indemnification</font><font style="font-family: 'Times New Roman';">, as mentioned in Notes </font><font style="font-family: 'Times New Roman';">9</font><font style="font-family: 'Times New Roman';">.c</font><font style="font-family: 'Times New Roman';"> and </font><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';">, respectively.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 273px;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="7" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020 - Restated (ii)</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Discontinued operations</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> (i)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Continuing operations</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Discontinued operations </font><font style="font-family: 'Times New Roman'; font-weight: bold;"> (i)</font></font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 47%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Basic earnings per share</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income for the year of the Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">785,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">612,750</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Weighted average shares outstanding (in thousands)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,090,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,090,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,090,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,089,414</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,089,414</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,089,414</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Basic earnings per share &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7200</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0598</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7799</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5625</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2576</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.8201</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Diluted earnings per share</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net income for the year of the Company</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">785,199</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,264</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">850,463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">612,750</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">280,633</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">893,383</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Weighted average shares outstanding (in thousands), including dilution effects</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,096,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,096,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,096,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,095,842</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,095,842</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,095,842</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Diluted earnings per share &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7158</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.0595</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.7753</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.5592</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.2561</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.8152</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Weighted average shares outstanding (in thousands)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Weighted average shares outstanding for basic per share </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,090,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,089,414</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dilution effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Subscription warrants &#8211; indemnification</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,548</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,570</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Deferred stock plan</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,914</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,858</font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Weighted average shares outstanding for diluted per share </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,096,962</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,095,842</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 2.83824%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 97.1618%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For further details, s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ee</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">N</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">ot</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">e</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">&nbsp;3.c.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">.</font></font></td>
</tr>
<tr>
<td style="width: 2.83824%;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="width: 97.1618%;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For further details, s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ee</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">N</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">ot</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">e</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">&nbsp;3.c.3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: TimesNewRoman;">.</font></font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Earnings per share were adjusted retrospectively by the issu</font><font style="font-family: 'Times New Roman';">anc</font><font style="font-family: 'Times New Roman';">e of </font><font style="font-family: 'Times New Roman';">2,297,491</font><font style="font-family: 'Times New Roman';"> common shares due to the partial exercise of the rights conferred by the subscription warrants disclosed in note </font><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<div style="width: 8.5in; margin: 0 auto;"><br></div>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>121</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><br></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">3</font></font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">3. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Segment </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nformation</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company operates </font><font style="font-family: 'Times New Roman';">six</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">main business segments: gas distribution, fuel distribution, chemicals,</font><font style="font-family: 'Times New Roman';"> (presented as discontinued operations),</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">storage</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">drugstores</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(presented as discontinued operations) </font><font style="font-family: 'Times New Roman';">and digital payments</font><font style="font-family: 'Times New Roman';">. The gas distribution segment (Ultragaz) distributes LPG to residential, commercial, and industrial consumers, especially in the South, Southeast, and Northeast regions of Brazil. The fuel distribution segment (Ipiranga) operates the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and lubricants and related activities throughout all the Brazilian territory. The storage segment (Ultracargo) operates liquid bulk terminals, especially in the Southeast and Northeast regions of Brazil</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">The digital payments segment (Abastece a&#237;) offers digital payments services, combining the &#8220;abastece a&#237;&#8221; app and the loyalty program</font><font style="font-family: 'Times New Roman';"> &#8220;Km de Vantagens&#8221;</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">The segments shown in the </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">inancial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are strategic business units supplying different products and services. Intersegment sales are at prices similar to those that would be charged to third parties.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The chemicals segment (Oxiteno) produces ethylene oxide and its main derivatives and fatty alcohols, which are raw materials used in the home and personal care, agrochemical, paints, varnishes, and other industries. The drugstores segment (Extrafarma) trades pharmaceutical, hygiene, and beauty products through its own drugstore chain in the North, Northeast and Southeast regions of the country. </font><font style="font-family: 'Times New Roman';">Both have their information by segment presented in Note 3.c.2, discontinued operations.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>122</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p><br></p>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Financial information related to segments</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The main financial information of each of the</font><font style="font-family: 'Times New Roman';"> continuing operations</font><font style="font-family: 'Times New Roman';"> Company&#8217;s segments </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';"> stated as follows</font><font style="font-family: 'Times New Roman';">. For discontinued operations see note 3.c.2.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 333px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; text-align: center; border-bottom: 1px solid #000000;" colspan="10"><font style="font-size: 8pt;"> <b style="mso-bidi-font-weight: normal;"><font lang="PT-BR" style="font-family: 'Times New Roman', 'serif'; color: #000000;">12/31/2021</font></b> </font></td>
</tr>
<tr style="height: 0px;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Income</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultragaz</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Abastece a&#237;</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Others </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(1) (2)</font></font></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Elimination</font></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total </font></p>
</td>
</tr>
<tr style="height: 10px;"></tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 38%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 99,382,617</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 9,744,659</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 713,096</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 84,733</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 109,925,105</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 22,452</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(214,715)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 109,732,842</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transactions with third parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 99,382,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 9,740,657</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 518,762</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 84,733</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 109,726,699</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6,143</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 109,732,842</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Intersegment transactions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 70</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,002</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 194,334</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 198,406</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 16,309</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(214,715)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(96,110,408)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,626,340)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(285,406)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(105,022,154)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 70</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 194,118</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(104,827,966)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 3,272,209</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,118,319</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 427,690</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 84,733</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 4,902,951</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 22,522</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(20,597)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 4,904,876</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (expenses)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling and marketing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,409,350)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(438,697)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,213)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(71,345)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,928,605)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,184)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,934,789)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loss allowance (reversion) for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 23,536</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(20,482)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 69</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,123</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,123</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(846,441)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(202,002)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(127,117)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(113,544)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,289,104)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(198,044)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 20,597</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,466,551)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Gain (loss) on disposal of property, plant and equipment and intangibles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 183,862</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,138</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,754)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 184,237</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(48)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 184,189</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 74,574</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 10,976</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,876</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,159</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 94,585</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,581</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 96,166</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,298,390</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 470,252</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 293,551</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(95,006)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,967,187</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(180,173)</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,787,014</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(859)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(104)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 602</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(361)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,273)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,634)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income before finance income (expenses) and income and social contribution taxes</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,297,531</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 470,148</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 294,153</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(95,006)</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,966,826</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(197,446)</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="2" style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,769,380</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Depreciation of PP&amp;E and amortization of intangible assets charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 325,942</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 211,014</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 76,421</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 14,365</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 627,742</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 25,376</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 653,118</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 280,975</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,546</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 282,521</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 282,521</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 182,245</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 46,579</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 25,440</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 267</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 254,531</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6,185</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 260,716</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total of depreciation and amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 789,162</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 259,139</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 101,861</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 14,632</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,164,794</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 31,561</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,196,355</font></p>
</td>
</tr>

</table>
<p><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>123</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="12" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31/12/2020 - Restated</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Income</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultragaz</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Abastece a&#237;</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal Segments</font></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Others </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; vertical-align: super;">(1) (2)</font></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Elimination</font></p>
</td>
<td colspan="3" rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total </font></p>
</td>
</tr>
<tr></tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 41%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net revenue from sales and services</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 66,133,035</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 7,408,342</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 644,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 8%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 17,223</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 74,202,777</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 9%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 48,325</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(193,046)</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 74,058,056</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Transactions with third parties</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 66,132,828</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,403,632</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 504,725</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 17,223</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 74,058,408</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(352)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 74,058,056</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Intersegment transactions</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 207</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,710</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 139,452</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 144,369</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 48,677</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(193,046)</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of products and services sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(63,609,871)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,310,157)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(270,010)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(70,190,038)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 207</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 133,384</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(70,056,447)</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 2,523,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,098,185</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 374,167</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 17,223</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 4,012,739</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 48,532</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(59,662)</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 4,001,609</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (expenses)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Selling and marketing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,164,779)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(404,776)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7,278)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,945)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,590,778)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,093)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,595,871)</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loss allowance (reversion) for expected credit losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,863</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,514)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 370</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,281)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(15,281)</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(568,963)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(196,883)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(122,965)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(33,164)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(921,975)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(131,673)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 59,662</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(993,986)</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Gain (loss) on disposal of property, plant and equipment and intangibles</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 78,952</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,936</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,433)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 85,455</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 85,455</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 44,195</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,265</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,898</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 920</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 62,278</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,756</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 64,034</font></p>
</td>
</tr>
<tr style="height: 19.85pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income (loss)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 915,432</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 494,213</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 251,759</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(28,966)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,632,438</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(86,478)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,545,960</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Share of profit (loss) of subsidiaries, joint ventures and associates</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(932)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(53)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 392</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(593)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(43,438)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(44,031)</font></p>
</td>
</tr>
<tr style="height: 19.85pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Operating income before finance income (expenses) and income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 914,500</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 494,160</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 252,151</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(28,966)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,631,845</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(129,916)</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,501,929</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Depreciation of PP&amp;E and amortization of intangible assets charges</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 314,511</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 192,241</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 65,838</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,053</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 576,643</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18,888</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 595,531</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 287,800</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,636</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 289,436</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 289,436</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of right-of-use assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 177,039</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 41,015</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 19,482</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 40</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 237,576</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,094</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 242,670</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total of depreciation and amortization</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 779,350</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 234,892</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 85,320</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 4,093</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,103,655</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 23,982</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">-</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000 !important;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> 1,127,637</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; vertical-align: super;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 89px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 45px;">
<td style="width: 2.73529%; height: 45px; padding: 0px; vertical-align: top;" valign="top"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(<font style="font-size: 8pt;">1)</font></font></sup></td>
<td style="width: 97.2647%; height: 45px; padding: 0px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Includes in the line &#8220;General and administrative&#8221;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and revenue</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;on disposal of PP&amp;E and intangibles</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">amount of R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">154,640</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in 2021 (R</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">87,363</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in 2020) of expenses</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -18.9333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;related to&nbsp;Ultrapar's&nbsp;holding structure, including the Presidency, Financial Board, Legal Board, Board of Directors and Fiscal Council, Risk, Compliance and Audit Board and Sustainability Board.</font></font></td>
</tr>
<tr style="height: 44px;">
<td style="height: 44px; padding: 0px; vertical-align: top; width: 2.73529%;" valign="top"><font style="font-size: 8pt;"><sup><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></sup></font></td>
<td style="height: 44px; padding: 0px; vertical-align: top; width: 97.2647%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 8pt;"> <font style="line-height: 115%; color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">The &#8220;Others&#8221; column consists of financial income and expenses, income tax and social contribution of the segments, the parent company&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Ultrapar</font>&nbsp;and the subsidiaries&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Serma</font>,&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Imaven</font>&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Im&#243;veis</font>&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Ltda</font>.</font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">&nbsp;(&#8220;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Imaven</font>&#8221;)</font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">,&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Ultrapar</font>&nbsp;International, UVC&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Investimentos</font>,&nbsp;</font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">UVC -&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Fundo</font>&nbsp;de&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">investimento</font></font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">&nbsp;and equity of joint ventures of&nbsp;<font style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">ConectCar</font></font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">, until September 30, 2021</font><font style="font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;">&nbsp;and RPR.</font> </font></td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><br></p>
</div>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>124</font></font></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<br>
<p><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cash flow</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultragaz</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Abastece a&#237;</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal Segments</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Others </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; vertical-align: super;">(3)</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Elimination</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr></tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 43%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of property, plant, and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 386,693</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 336,871</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 298,272</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 636</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,022,472</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,947</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,028,419</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of intangible assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 156,498</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 30,150</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 15,819</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34,824</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 237,291</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 197</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 237,488</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 420,261</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 420,261</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 420,261</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decarbonization credits (see Note 16)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 176,837</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 176,837</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 176,837</font></p>
</td>
</tr>

</table>
<br>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">31/12/2020 - Restated</font></p>
</td>
</tr>
<tr style="height: 10.5pt;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cash flow</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultragaz</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Abastece a&#237;</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal Segments</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Others </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; vertical-align: super;">(3)</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Elimination</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr></tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 43%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of property, plant, and equipment</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 245,980</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 276,470</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 211,287</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 8%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,149</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 738,886</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 11,732</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 750,618</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Acquisition of intangible assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 85,337</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 32,613</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,596</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 10,285</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 133,831</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 20,703</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 154,534</font></p>
</td>
</tr>
<tr style="height: 11.25pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 351,233</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,812</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 356,045</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 356,045</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decarbonization credits (see Note 16)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 125,345</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 125,345</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 125,345</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 6pt; vertical-align: super;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 44px; border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="8" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 43%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ipiranga</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultragaz</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ultracargo</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 8%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Abastece a&#237;</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal Segments</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Others </font><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; vertical-align: super;">(3)</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets from subsidiaries held for sale</font></p>
</td>
<td rowspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 7%; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 10px;"></tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total assets (excluding intersegment transactions)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 21,050,793</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,233,736</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,675,453</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 152,212</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 27,112,194</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 897,246</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 11,000,917</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 39,010,357</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 6pt; vertical-align: super;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 62px; border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="10" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 28px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 28px; text-align: center; width: 30%; vertical-align: bottom; border-bottom: 1px solid #000000;" valign="bottom"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Assets</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ipiranga</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultragaz</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Oxiteno</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ultracargo</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Extrafarma</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="font-size: 8pt; font-weight: bold;">Abastece<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;a&#237;</font></font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Subtotal Segments</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Others&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">(3)</font></font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Elimination</font></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 28px; text-align: center; width: 7%; border-bottom: 1px solid #000000;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Total</font></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total assets (excluding intersegment transactions)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18,761,207</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,927,061</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 8,892,850</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,197,675</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,845,038</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 85,787</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34,709,618</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,540,544</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 36,250,162</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-family: 'Times New Roman'; font-size: 6pt; vertical-align: super;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></td>
<td style="width: 97%; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The &#8220;Others&#8221; column comprises the parent company Ultrapar (including goodwill from certain acquisitions) and the subsidiaries Serma, Imaven, Ultrapar International, UVC Investimentos and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">UVC - Fundo de investimento</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>

</table>
</div>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>125</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p><br></p>
<div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 319px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income before financial result, income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,769,380</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,501,929</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial result, net</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(762,732)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(550,348)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income before income and social contribution taxes</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,006,648</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 951,581</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Additions to PP&amp;E and intangible assets (excluding intersegment account balances):</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 367,021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 309,083</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 550,874</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 338,848</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 316,873</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 218,898</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Abastece a&#237;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 35,460</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 15,434</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,270,228</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 882,263</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others </font><font style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">(1)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 6,143</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 32,437</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total additions to PP&amp;E and intangible assets, excluding decarbonization credits (see Notes 15 and 16)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,276,371</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 914,700</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Asset retirement obligation &#8211; fuel tanks (see Note 22)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(451)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(163)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Capitalized borrowing costs</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,013)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,385)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total investments in PP&amp;E and intangible assets (cash flow)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,265,907</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 905,152</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Addition on contractual assets with customers &#8211; exclusive rights (see Note 12):</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 689,986</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 543,382</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 5,703</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 689,986</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000 !important; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 549,085</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 34px;">

<tr style="height: 34px;">
<td style="vertical-align: top; width: 3%; height: 34px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
<td style="vertical-align: top; width: 97%; height: 34px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The &#8220;Others&#8221; column comprises the parent company Ultrapar (including goodwill from certain acquisitions) and the subsidiaries Serma, Imaven, Ultrapar International, UVC Investimentos and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">UVC&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8211;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Fundo de investimento</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<p style="margin: 2pt 0pt 0pt 7.1pt; text-align: justify; text-indent: -7.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&nbsp;</font><font style="font-size: 10pt; font-family: 'Times New Roman';">&nbsp;</font><br></p>
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<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>126</font></font></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Geographic </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">rea </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nformation</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">right-of-use assets, PP&amp;E</font><font style="font-family: 'Times New Roman';"> and intangible assets of the Company and its subsidiaries are located in Brazil, except those related to Oxiteno&#8217; plants abroad, </font><font style="font-family: 'Times New Roman';">which were reclassified to assets of subsidiaries held for sale on December 31, 202</font><font style="font-family: 'Times New Roman';">1, </font><font style="font-family: 'Times New Roman';">for further details see </font><font style="font-family: 'Times New Roman';">N</font><font style="font-family: 'Times New Roman';">ote 3.b,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">as shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 75%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">United States of America</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,152,876</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Mexico</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 163,042</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Uruguay</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 90,347</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,406,265</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">subsidiaries</font><font style="font-family: 'Times New Roman';"> generate revenue from operations in Brazil, as well as from exports of products to foreign customers, as disclosed below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Restated (i)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 75%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net revenue from sale and services:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 109,598,146</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 73,941,162</font></p>
</td>
</tr>
<tr style="height: 15pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other Latin American countries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 69,523</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 45,356</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">United States of America and Canada</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 35,279</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 29,935</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Europe</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 18,876</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 34,460</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt 0pt 0pt 10pt; page-break-after: avoid; page-break-inside: avoid; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 11,018</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 7,143</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 109,732,842</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 74,058,056</font></p>
</td>
</tr>

</table>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><font style="font-size: 8pt;"><font style="font-size: 9pt;"><sub><font style="font-family: 'Times New Roman'; vertical-align: super;">(i)</font></sub></font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">For further information s</font><font style="font-family: 'Times New Roman';">ee</font><font style="font-family: TimesNewRoman;"> </font><font style="font-family: TimesNewRoman;">N</font><font style="font-family: TimesNewRoman;">ote 3.c.3</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; orphans: 0; page-break-after: avoid; page-break-inside: avoid; text-align: justify; widows: 0;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>127</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<p><br></p>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">34</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. </font><font style="font-family: 'Times New Roman'; font-weight: bold;">Risks and </font><font style="font-family: 'Times New Roman'; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-weight: bold;">nstruments (Consolidated)</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Risk </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">m</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">anagement and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments &#8211; </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">g</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">overnance</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The main risks to which the Company and its subsidiaries are exposed reflect strategic/operational and economic/financial aspects. Operational/strategic risks (including, but not limited to, demand behavior, competition, technological innovation, and material changes in the industry structure) are addressed by the Company&#8217;s management model. Economic/financial risks primarily reflect default of customers, behavior of macroeconomic variables, such as exchange and interest rates, as well as the characteristics of the financial instruments used by the Company and its subsidiaries and their counterparties. These risks are managed through control policies, specific strategies, and the establishment of limits.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company has a policy for the management of resources, financial instruments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and risks approved by its </font><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">ompany&#8217;s Board of Directors</font><font style="font-family: 'Times New Roman';"> (&#8220;Policy&#8221;). In accordance with the Policy, the main objectives of financial management are to preserve the value and liquidity of financial assets and ensure financial resources for the development of the business, including expansions. The main financial risks considered in the Policy are </font><font style="font-family: 'Times New Roman';">market </font><font style="font-family: 'Times New Roman';">risks </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">currencies, interest rates</font><font style="font-family: 'Times New Roman';"> and commodities)</font><font style="font-family: 'Times New Roman';">, liquidity and </font><font style="font-family: 'Times New Roman';">credit. </font><font style="font-family: 'Times New Roman';">The g</font><font style="font-family: 'Times New Roman';">overnance of the management of financial risks follows the segregation of duties below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The execution of the Policy has done by corporate financial board, through its treasury department, with the assistance of the accounting, legal and tax departments.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The monitoring of compliance of the Policy and possible issues is the responsibility of the Risk and Investment Committee, (&#8220;Committee&#8221;), which is composed of CFO, Treasury Director, Controller and other directors designated by the CFO</font><font style="font-family: 'Times New Roman';"> and which meet</font><font style="font-family: 'Times New Roman';"> quarte</font><font style="font-family: 'Times New Roman';">r</font><font style="font-family: 'Times New Roman';">ly</font><font style="font-family: 'Times New Roman';">. The monthly monitoring of Policy</font><font style="font-family: 'Times New Roman';"> standards</font><font style="font-family: 'Times New Roman';"> is responsibility of the CFO</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Approval of the Policy and the periodic </font><font style="font-family: 'Times New Roman';">assessment</font><font style="font-family: 'Times New Roman';"> of Company exposure to financial risks are subject to the approval of the C</font><font style="font-family: 'Times New Roman';">ompany&#8217;s Board of Directors </font><font style="font-family: 'Times New Roman';">of Ultrapar.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Audit and Risks Committee advises the C</font><font style="font-family: 'Times New Roman';">ompany&#8217;s Board of Directors</font><font style="font-family: 'Times New Roman';"> in the assessment of controls, management and exposure of financial risks and revision of Policy. The Risk, Compliance and Audit board monitors of standards compliance of the Policy and reports to the Audit and Risks Committee the risks exposure and compliance or noncompliance of the Policy.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>128</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Currency </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">isk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Most transactions of the Company</font><font style="font-family: 'Times New Roman';">, through </font><font style="font-family: 'Times New Roman';">its subsidiaries</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are located in Brazil and therefore, the reference currency for risk management is the Brazilian Real. Currency risk management is guided by neutrality of currency exposures and considers the risks of the Company and its subsidiaries and their exposure to changes in exchange rates. The Company considers as its main currency exposures the</font><font style="font-family: 'Times New Roman';"> changes in</font><font style="font-family: 'Times New Roman';"> assets and liabilities in foreign currency.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries use exchange rate hedging instruments (especially between the Brazilian Real and the U.S. dollar) available in the financial market to protect their assets, liabilities, receipts</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and disbursements in foreign currency</font><font style="font-family: 'Times New Roman';"> and net investment</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> in foreign operation</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Hedge is used </font><font style="font-family: 'Times New Roman';">in order to reduce the effects of changes in exchange rates on </font><font style="font-family: 'Times New Roman';">the Company&#180;s income </font><font style="font-family: 'Times New Roman';">and cash flows in Brazilian Reais within the exposure limits under its Policy. Such foreign exchange hedging instruments have amounts, periods, and rates substantially equivalent to those of assets, liabilities, receipts</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and disbursements in foreign currenc</font><font style="font-family: 'Times New Roman';">ies</font><font style="font-family: 'Times New Roman';"> to which they are related. </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets and liabilities in foreign currencies are stated below, translated into Brazilian Reais:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b.1 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Assets and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">iabilities in </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">oreign </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">urrencies</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 14px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Assets in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 14px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash, cash equivalents and financial investments in foreign currency (except hedging instruments)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 122,242</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 22px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,413,276</font></p>
</td>
</tr>
<tr style="height: 29px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign trade receivables, net of loss allowance for expected credit losses and advances to foreign customers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,324</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 307,829</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 186,548</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,767,626</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Asset exposure from subsidiaries held for sale</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,839,194</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,149,308</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 3,488,731</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing in foreign currency, gross of transaction costs and discount</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,860,833)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,246,707)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Payables arising from imports, net of advances to foreign suppliers</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(649,107)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(633,013)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liabilities exposure from subsidiaries held for sale</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(884,402)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,394,342)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,879,720)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign currency hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 2,933,572</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 4,837,554</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign currency hedging instruments from subsidiaries held for sale</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> 1,786,471</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net liability position &#8211; total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,524,991)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,553,435)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net (liability) asset position &#8211; income statement effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(498,604)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">186,306</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net liability position &#8211; equity effect from subsidiaries held for sale</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,026,387)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1,739,741)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>129</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">b.2 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Sensitivity </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nalysis of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ssets and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">l</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">iabilities in </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">oreign </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">urrency</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For the base s</font><font style="font-family: 'Times New Roman';">cenario</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">future market curves as of December 31, 2021 were used</font><font style="font-family: 'Times New Roman';"> applied </font><font style="font-family: 'Times New Roman';">on</font><font style="font-family: 'Times New Roman';"> the net position of the Company exposed to the currency risk, simulating the effects of appreciation and devaluation of the Real in the income statement</font><font style="font-family: 'Times New Roman';">, impacted by the average U.S. dollar of R$ 5.6514 on December 31,2021.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below shows the effect</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of exchange rate changes</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">o</font><font style="font-family: 'Times New Roman';">n</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the net </font><font style="font-family: 'Times New Roman';">liability</font><font style="font-family: 'Times New Roman';"> position</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">$ </font><font style="font-family: 'Times New Roman';">1,524,</font><font style="font-family: 'Times New Roman';">991</font><font style="font-family: 'Times New Roman';"> in</font><font style="font-family: 'Times New Roman';"> foreign</font><font style="font-family: 'Times New Roman';"> currency</font><font style="font-family: 'Times New Roman';"> as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 104px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.799%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Risk</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.7157%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Scenario</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.799%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.7157%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Base</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income statement effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 13.799%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real devaluation</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(25,230)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 13.799%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; width: 11.7157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(25,230)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Income statement effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 13.799%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Real appreciation</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 11.7157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,230</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 74.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.799%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; width: 11.7157%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25,230</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Interest </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ate </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">isk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries adopt policies for borrowing and investing financial resources and for capital cost minimization. The financial investments of the Company and its subsidiaries are primarily held in transactions linked to the DI, as set forth in Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">. Borrowings primarily relate to financing from Banco do Bra</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">il, </font><font style="font-family: 'Times New Roman';">as well as </font><font style="font-family: 'Times New Roman';">debentures and borrowings in foreign currency, as shown in Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company attempts to maintain </font><font style="font-family: 'Times New Roman';">most of </font><font style="font-family: 'Times New Roman';">its financial interest assets and liabilities at floating rates.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>130</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"><br></font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">c.1 Assets and liabilities exposed to floating interest rates</font><br></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he financial assets and liabilities exposed to floating interest rates</font><font style="font-family: 'Times New Roman';"> are demonstrated below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 294px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 65%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,749,852</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans and debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,855,517)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(6,947,362)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liability position of foreign exchange hedging instruments &#8211; DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.g</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,283,625)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,124,146)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Liability position of fixed interest instruments + IPCA &#8211; DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.g</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,364,583)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2,203,705)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net liability position in DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,952,953)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,283,509)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">TJLP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans &#8211; TJLP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(326)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(29,803)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net liability position in TJLP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(326)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(29,803)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 1.5pt double #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Asset position of foreign exchange hedging instruments &#8211; LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.g</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">279,047</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">260,958</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Loans &#8211; LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(275,936)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(573,484)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net liability position in LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,111</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(312,526)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total net liability position exposed to floating interest</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,950,168)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,625,838)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>131</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">c.</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">2</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Sensitivity </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nalysis of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">loating </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nterest </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ate </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">isk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For</font><font style="font-family: 'Times New Roman';"> sensitivity analysis of floating interest rate risk</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> in December 31, 2021</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the Company used the</font><font style="font-family: 'Times New Roman';"> market curves</font><font style="font-family: 'Times New Roman';"> of the reference indexes (DI, TJLP, LIBOR and SELIC) as a base scenario. </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The tables below show the incremental expenses and income that would be recognized in financ</font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';"> income,</font><font style="font-family: 'Times New Roman';"> if the market curves of</font><font style="font-family: 'Times New Roman';"> floating interest at the base date were applied to the average balances of the current year,</font><font style="font-family: 'Times New Roman';"> due to the effect of floating interest rate.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 231px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Risk</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Scenario</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Base</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Exposure of interest rate risk</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest effect on cash equivalents and financial </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">153,160</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest effect on debt in DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(360,652)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest rate hedging instruments (liabilities in DI) effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in DI</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(221,157)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Incremental expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(428,649)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest effect on debt in TJLP</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in TJLP</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Incremental expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(7)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange hedging instruments (assets in LIBOR) effect</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 69.4853%;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest effect on debt in LIBOR</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Increase in LIBOR</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(94)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69.4853%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Incremental expenses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16.4216%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 13.9706%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(83)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Credit </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">isks</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The financial instruments that would expose the Company and its subsidiaries to credit risks of the counterparty are basically represented by cash and bank deposits, financial investments, hedging instruments</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and trade receivables</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d.1 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Credit risk of financial institutions </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Such risk results from the inability of financial institutions to comply with their financial obligations to the Company and its subsidiaries due to insolvency. The Company and its subsidiaries regularly conduct a credit review of the institutions with which they hold cash and cash equivalents, financial investments, and hedging instruments through various methodologies that assess liquidity, solvency, leverage, portfolio quality, etc. Cash and cash equivalents, financial investments, and hedging instruments are held only with institutions with a solid credit history, chosen for safety and soundness. The volume of cash and cash equivalents, financial investments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and hedging instruments are subject to maximum limits by </font><font style="font-family: 'Times New Roman';">each </font><font style="font-family: 'Times New Roman';">institution and, therefore, require diversification of counterpart</font><font style="font-family: 'Times New Roman';">ies</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>132</font></font></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;"></font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d.2 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Government credit risk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company's policy allows investments in government securities from countries classified as investment grade AAA or </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman';">aa by specialized credit rating agencies</font><font style="font-family: 'Times New Roman';"> (S&amp;P, Moody&#8217;s and Fitch)</font><font style="font-family: 'Times New Roman';"> and in Brazilian government bonds. The volume of such financial investments is subject to maximum limits by each country and, therefore, requires diversification of counterparties.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The credit risk of </font><font style="font-family: 'Times New Roman';">financial institution and government of </font><font style="font-family: 'Times New Roman';">cash, cash equivalents and financial investments is summarized below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair value</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Counterparty credit rating</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 78%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">AAA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,606,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,190,428</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">AA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">740,879</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">317,894</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">A</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">116,594</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">163,838</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,463,473</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,672,160</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d.3 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Customer credit risk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The credit policy establishes the analysis of the profile of each new customer</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> individually</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> regarding their financial condition. The review carried out by the subsidiaries of the Company includes the evaluation of external ratings, when available, </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">inancial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">, credit bureau information, industry information and, when necessary, bank references. Credit limits are established for each customer and reviewed periodically, in a shorter period the greater the risk, depending on the approval of the responsible area in cases of sales that exceed these limits.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In monitoring credit risk, customers are grouped according to their credit characteristics and depending on the business the grouping takes into account, for example, whether they are natural or legal clients, whether they are wholesalers, resellers or final customers, considering also </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman';"> geographic area.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The </font><font style="font-family: 'Times New Roman';">expected</font><font style="font-family: 'Times New Roman';"> of credit loss</font><font style="font-family: 'Times New Roman';">es</font><font style="font-family: 'Times New Roman';"> are calculated </font><font style="font-family: 'Times New Roman';">by </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">expected loss ap</font><font style="font-family: 'Times New Roman';">p</font><font style="font-family: 'Times New Roman';">roach</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">based on the probability of default</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">rates. Loss rates are calculated on the basis of the average probability of a receivable amount to advance through successive stages of default until full write-off</font><font style="font-family: 'Times New Roman';">. The</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">probability of default</font><font style="font-family: 'Times New Roman';"> calculation takes into account a credit risk score for each exposure</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> based on data considered to be capable of fores</font><font style="font-family: 'Times New Roman';">eeing</font><font style="font-family: 'Times New Roman';"> the risk of loss (external classifications, audited </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">inancial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">, cash flow projections, customer information available in the press, for example), with addition of the credit assessment based on experience.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Such </font><font style="font-family: 'Times New Roman';">credit </font><font style="font-family: 'Times New Roman';">risks are managed by each business unit through specific criteria for acceptance of customers and </font><font style="font-family: 'Times New Roman';">their </font><font style="font-family: 'Times New Roman';">credit rating and are additionally mitigated by </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">diversification of sales. No single customer or group accounts for more than 10% of total revenue.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The subsidiaries of the Company request guarantees related to trade receivables and other receivables in specific situations to customers, but these guarantees don&#8217;t influence in the calculation of risk of loss.</font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>133</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subsidiaries of the Company maintained the following </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> balances on trade receivables:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 119px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 79%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">422,542</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">447,389</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultragaz</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">135,565</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">113,621</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Oxiteno (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">16,430</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Extrafarma (*)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">73</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultracargo</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,526</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,594</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">559,633</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">579,107</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">(*) On December 31, 2021 the balances were reclassified to assets of subsidiaries held for sale.</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 8pt;"><br></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents information about credit risk exposure</font><font style="font-family: 'Times New Roman';">, resulting from the additions of the balances of trade receivables and reseller financing:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 147px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="5" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 35%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average rate of losses</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accounting balance</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision for losses</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Weighted average rate of losses</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Accounting balance</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 1%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Provision for losses</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Current</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">0.6%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,901,536</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,476</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1.2%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,751,067</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">44,091</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">less than 30 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.3%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">109,284</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,005</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2.2%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">134,836</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,939</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31-60 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20.4%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">57,545</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,746</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.2%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">43,207</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,563</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">61-90 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23.0%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">39,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,016</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10.9%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,589</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,630</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91-180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49.1%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">50,588</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">24,818</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">36.8%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">76,158</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">28,062</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">more than 180 days</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">57.5%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">838,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">482,572</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55.7%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">890,756</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">495,822</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,996,662</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">559,633</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,938,613</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">579,107</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The information about </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';"> balances by geographic area are as follows:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 137px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 79%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil </font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">559,532</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">568,461</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">United States of America and Canada</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,146</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Other Latin America countries</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">15</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">271</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Europe</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">66</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,120</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Others</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">109</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">559,633</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">579,107</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For </font><font style="font-family: 'Times New Roman';">more</font><font style="font-family: 'Times New Roman';"> information about the allowance for </font><font style="font-family: 'Times New Roman';">loss allowance for expected credit losses</font><font style="font-family: 'Times New Roman';">, see Notes</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">.a and </font><font style="font-family: 'Times New Roman';">6</font><font style="font-family: 'Times New Roman';">.b.</font></font></p>
</div>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>134</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p><br></p>
<div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">d.4 Price risk</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries are exposed to commodity price risk, </font><font style="font-family: 'Times New Roman';">due</font><font style="font-family: 'Times New Roman';"> the fluctuation in prices for diesel and gasoline</font><font style="font-family: 'Times New Roman';">, among others</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">These </font><font style="font-family: 'Times New Roman';">products</font><font style="font-family: 'Times New Roman';"> are traded on the stock exchange and are subject</font><font style="font-family: 'Times New Roman';">ed</font><font style="font-family: 'Times New Roman';"> to the impacts of macroeconomic and geopolitical factors outside the control of the Company and its subsidiaries.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">To mitigate th</font><font style="font-family: 'Times New Roman';">e</font><font style="font-family: 'Times New Roman';"> risk</font><font style="font-family: 'Times New Roman';"> of the fluctuation of diesel and gasoline prices</font><font style="font-family: 'Times New Roman';">, the Company and its subsidiaries permanently monitor the market, seeking to protect</font><font style="font-family: 'Times New Roman';">ion</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">price movements through hedge transactions for cargo purchased in the international market</font><font style="font-family: 'Times New Roman';">, used contracts of derivative </font><font style="font-family: 'Times New Roman';">for heating oil (diesel)</font><font style="font-family: 'Times New Roman';"> and RBOB (gas</font><font style="font-family: 'Times New Roman';">oline</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> traded on the stock exchange</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below shows the positions of derivative financial instruments to hedge commodity price risk at </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 95px;" width="100%">

<tr style="height: 34px;">
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Derivative</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="5" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Contract</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Notional amount (m</font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">3</font><font style="font-family: 'Times New Roman'; font-weight: bold;">)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Notional amount (USD thousands)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair value (R$ thousands)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 28%; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Position</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Product</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 1%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; width: 7%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Term</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Heating Oil</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jan-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">167,255</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">108,429</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,148</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">42,399</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,269</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(563)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Term</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Sold</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">RBOB</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jan-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">29,413</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17,112</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(967)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,302</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(563)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>135</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p><br></p>
<div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">e. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Liquidity </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">isk</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries&#8217; main sources of liquidity derive from (i)</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">cash, cash equivalents</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and financial investments, (ii)</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">cash generated from operations and (iii)</font><font style="font-family: 'Times New Roman';">&nbsp;</font><font style="font-family: 'Times New Roman';">financing. The Company and its subsidiaries believe that these sources are sufficient to satisfy their current funding requirements, which include, but are not limited to, working capital, capital expenditures, amortization of debt</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and payment of dividends.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries periodically examine opportunities for acquisitions and </font><font style="font-family: 'Times New Roman';">investments. They consider different types of investments, either directly</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> through joint ventures, or </font><font style="font-family: 'Times New Roman';">through </font><font style="font-family: 'Times New Roman';">associated companies, and finance such investments using cash generated from operations, debt financing, through capital increases</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> or through a combination of these methods.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries believe to have sufficient working capital and sources of financing to meet their current needs</font><font style="font-family: 'Times New Roman';">. T</font><font style="font-family: 'Times New Roman';">he gross indebtedness due over the next twelve months total</font><font style="font-family: 'Times New Roman';">ed</font><font style="font-family: 'Times New Roman';"> R</font><font style="font-family: 'Times New Roman';">$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">3,</font><font style="font-family: 'Times New Roman';">605,377</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> including estimated interests on loans</font><font style="font-family: 'Times New Roman';"> (for quantitative information, see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">. Furthermore, the </font><font style="font-family: 'Times New Roman';">investments </font><font style="font-family: 'Times New Roman';">realized in</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">total</font><font style="font-family: 'Times New Roman';">ed</font><font style="font-family: 'Times New Roman';"> R$ 1,8</font><font style="font-family: 'Times New Roman';">83</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">839</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">On</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1, the Company and its subsidiaries had R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">4,084,196</font><font style="font-family: 'Times New Roman';"> in</font><font style="font-family: 'Times New Roman';"> cash, cash equivalents</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and short-term financial investments (for quantitative information, see Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below presents a summary of financial liabilities </font><font style="font-family: 'Times New Roman';">as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">by the Company and its subsidiaries, </font><font style="font-family: 'Times New Roman';">listed </font><font style="font-family: 'Times New Roman';">by maturity. The amounts disclosed in this table are the contractual undiscounted cash outflows, and, therefore, these amounts &#8203;&#8203;</font><font style="font-family: 'Times New Roman';">may </font><font style="font-family: 'Times New Roman';">be different from the amounts disclosed on the balance sheet.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 83px; width: 100%;" width="100%">

<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 40%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Financial liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Less than 1 year</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Between 1 and 3 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Between 3 and 5 years</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 29px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">More than 5 years</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Loans including future contractual interest </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1) (2)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">19,825,386</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,605,377</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,081,235</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,237,708</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,901,066</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Currency and interest rate hedging instruments </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(3)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">747,861</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">214,846</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">272,208</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">169,274</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">91,533</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,789,954</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,789,954</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,145,602</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">304,007</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">505,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">370,828</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">965,220</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 44px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="width: 2%; height: 10px; padding: 1px 1px 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
<td style="width: 98%; height: 10px; padding: 1px 1px 10px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">To calculate the estimated interest on loans some macroeconomic assumptions were used, including averag</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ing</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;for the period</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;the following</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">:</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(i) DI of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">11.74</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">%</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;to 202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">10.32</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">%&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;(ii) exchange rate of the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">R</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">eal against the U.S. dollar of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5.75</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in 2022, R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5.45</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;in 2023, R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5.10</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in 2024</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and R$&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">4.90 as from</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">2025</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(iii) TJLP of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">6.08</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">%</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">i</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">v) IPCA of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5.11</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">% in 202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">3.32</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">%&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 3.1% in 2024 and 3.0% as from 2025</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(source:</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">B3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, Bulletin Focus and financial institutions)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
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<tr style="height: 17px;">
<td style="height: 17px; padding: 1px 1px 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
<td style="height: 17px; padding: 1px 1px 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes estimated interest payments on short-term and long-term loans until the payment date.</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The currency and interest rate hedging instruments were estimated based on projected U.S dollar futures contracts and the futures curve</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;of DI x Pre</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">DI</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;x IPCA</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;contract</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;quoted on&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">B3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">on</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">December</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and on the futures curve of LIBOR (</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ICE&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8211;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Intercontinental</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Exchange</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and commodities heating oil</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">contracts quoted on&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">New York Mercantile Exchange</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(&#8220;NYMEX&#8221;)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">on</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">December</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">202</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. In the table above, only the hedging instruments with negative result</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;at the time of settlement were considered.</font></font></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>136</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Capital </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">m</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">anagement</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company manages its capital structure based on indicators and benchmarks. The key performance indicators related to the capital structure management are the weighted average cost of capital, net debt / EBITDA, interest coverage</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and indebtedness / equity ratios. Net debt is composed of cash, cash equivalents</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and financial investments (see Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">) and loans, including debentures (see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">). The Company can change its capital structure depending on the economic and financial conditions, in order to optimize its financial leverage and capital management. The Company seeks to improve its return on </font><font style="font-family: 'Times New Roman';">invested </font><font style="font-family: 'Times New Roman';">capital by implementing efficient working capital management and a selective investment program.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">g. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Selection and </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">u</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">se of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In selecting financial investments and hedging instruments, an analysis is conducted to estimate rates of return, risks involved, liquidity, calculation methodology for the carrying value and fair value, and </font><font style="font-family: 'Times New Roman';">a review is conducted of any </font><font style="font-family: 'Times New Roman';">documentation applicable to the financial instruments. The financial instruments used to manage the financial resources of the Company and its subsidiaries are intended to preserve value and liquidity.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Policy contemplates the use of derivative financial instruments only to cover identified risks and in amounts consistent with the risk (limited to 100% of the identified risk). The risks identified in the Policy are described in the above sections and are subject to risk management. In accordance with the Policy, the Company and its subsidiaries can use forward contracts, </font><font style="font-family: 'Times New Roman';">S</font><font style="font-family: 'Times New Roman';">waps, options, and futures contracts to manage identified risks. Leveraged derivative instruments are not permitted. Because the use of derivative financial instruments is limited to the coverage of identified risks, the Company and its subsidiaries use the term &#8220;hedging instruments&#8221; to refer to derivative financial instruments.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>137</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
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<div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below summarizes the position of hedging instruments </font><font style="font-family: 'Times New Roman';">entered </font><font style="font-family: 'Times New Roman';">by the Company and its subsidiaries:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; text-decoration: underline;">Designated as hedge accounting</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 126px; width: 100%;" width="100%">

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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Product</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Hedged object</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td colspan="2" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Rates agreement</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maturity</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Notional amount </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">1</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td colspan="3" style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair value</font></p>
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<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 14%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 14%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
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<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD + 4.65 %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104.87% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">sep-23</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 125,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 185,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">212,510</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">298,889</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD + LIBOR-3M + 1.14%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">105.00% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jun-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 50,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 50,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">109,332</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">94,782</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest rate swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4.59% + IPCA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">102.00% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">sep-28</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">R$ 2,266,054</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">R$ 806,054</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">166,468</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">203,837</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest rate swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.47%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99.94% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">nov-24</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">R$ 90,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">R$ 90,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(9,044)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,498</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Term</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Firm commitments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">BRL</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Heating Oil</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jan-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 120,260</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 42,399</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,302</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(563)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">NDF</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Firm commitments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">BRL</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jan-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">34.h.1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 68,361</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 23,124</font></p>
</td>
<td style="vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,702</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(733)</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">486,270</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom-width: 1px; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">599,710</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; text-decoration: underline;">Not designated as hedge accounting</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 113px; width: 100%;" width="100%">

<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 13.9002%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Product</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 1.06296%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 11.9379%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Hedged object</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 1.06296%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 24%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Rates agreement</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 12.9191%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maturity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 1.22649%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 16.7989%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">Notional amount </font><font style="font-family: 'Times New Roman'; font-weight: bold; vertical-align: super;">1</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px; width: 15%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair value</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 13.9002%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 14%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Assets</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Liabilities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.9191%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.22649%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 8.79886%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 13.9002%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.9379%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 14%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD + 0.18%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">55.5% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12.9191%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22649%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.79886%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 320,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">519,260</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 13.9002%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">NDF</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 11.9379%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Firm commitments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 14%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 10%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">BRL</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 12.9191%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jun-22</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1.22649%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 8.79886%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 625,762</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 10px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 378,550</font></p>
</td>
<td style="vertical-align: bottom; height: 10px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,463</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 1%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(112,152)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 13.9002%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest rate swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.9379%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 14%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2.67%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">100% DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12.9191%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22649%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.79886%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">R$ 1,300,000</font></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 13.9002%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Interest rate swap</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 11.9379%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.06296%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 14%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.25%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 10%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">DI - 1.36%</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 12.9191%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">jun-29</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1.22649%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 8.79886%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">USD 300,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; width: 7%; border-bottom-width: 0.5px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 0.981194%; border-bottom-width: 0.5px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(126,752)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; width: 7%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 13.9002%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.9379%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.06296%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 14%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12.9191%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22649%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.79886%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(123,289)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">407,103</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify; font-size: 8pt;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(1) Currency as indicated.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">All transactions mentioned above were properly registered with CETIP S.A.</font></p>
</div>
</div>
</div>
<div>
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>138</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ultrapar&nbsp;Participa&#231;&#245;es&nbsp;S.A. and Subsidiaries</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 11pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Notes to the Parent</font><font style="font-family: 'Times New Roman';">&#8217;s Separate</font><font style="font-family: 'Times New Roman';">&nbsp;and Consolidated&nbsp;</font><font style="font-family: 'Times New Roman';">Financial&nbsp;</font><font style="font-family: 'Times New Roman';">statements</font></font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 5pt;"><font style="font-family: 'Times New Roman';">&nbsp;</font></p>
<p style="margin: 0pt 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: justify; font-size: 9pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-size: 10pt;">(In thousands of Brazilian&nbsp;Reais, unless otherwise stated)</font></p>
</div>
</div>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">h. </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Hedge </font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ccounting</font><font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries </font><font style="font-family: 'Times New Roman';">use derivative and non-derivative financial instruments</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for hedging purposes and</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">test, throughout the duration of the hedge, the</font><font style="font-family: 'Times New Roman';">ir</font><font style="font-family: 'Times New Roman';"> effectiveness, as well as the changes in their fair value. </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">h.1 Fair value hedge</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries designate as fair value hedges certain financial instruments used to offset the variations in interest and exchange rates, which are based on the market value of financing contracted in Brazilian Reais and U.S. dollars</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he foreign exchange hedging instruments designated as fair value hedge</font><font style="font-family: 'Times New Roman';"> are:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">In thousands, except the DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 75%; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Notional amount &#8211; US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">175,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 1%; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">235,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Result of hedging instruments &#8211; gain/(loss) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,812</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">574,378</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustment of debt &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">47,064</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(13,131)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expense in the statements of profit or loss &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(105,059)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(597,735)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Average effective cost &#8211; DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104.9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">104.1</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For more information, see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.c.1.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he interest </font><font style="font-family: 'Times New Roman';">rate </font><font style="font-family: 'Times New Roman';">hedging instruments designated as fair value hedge</font><font style="font-family: 'Times New Roman';"> are:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">In thousands, except the DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 75%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Notional amount &#8211; US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,226,054</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">806,054</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Result of hedging instruments &#8211; gain/(loss) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(17,922)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">67,446</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustment of debt &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">166,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(18,446)</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expense in the statements of profit or loss &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(245,710)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(99,555)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Average effective cost &#8211; DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">102.0</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">95.8</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For more information, see Note</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">.2, </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">.4</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">.6</font><font style="font-family: 'Times New Roman';">, 17.f.8, 17.f.9 and f.10</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">In thousands, except the DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 75%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Notional amount &#8211; US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">90,000</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">90,000</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Result of hedging instruments &#8211; gain/(loss) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(10,088)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6,528</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustment of debt &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">11,756</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,250</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expense in the statements of profit or loss &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(5,914)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(8,968)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Average effective cost &#8211; DI %</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99.9</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">99.9</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For more information, see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">.7.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>139</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-size: 10pt;"><font style="font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The foreign exchange hedging instruments and commodities designated as fair value hedge are as described below</font><font style="font-size: 10pt; font-family: 'Times New Roman';"> and are concentrated in subsidiary IPP</font><font style="font-size: 10pt; font-family: 'Times New Roman';">. The purpose of this relationship is to transform the cost of the imported product from fixed to variable until the moment of blend the fuel, as occurs with the price practiced in its sales. The I</font><font style="font-size: 10pt; font-family: 'Times New Roman';">PP</font><font style="font-size: 10pt; font-family: 'Times New Roman';"> realizes these operations with over-the-counter derivatives that are designated in a hedge accou</font><font style="font-size: 10pt; font-family: 'Times New Roman';">n</font><font style="font-size: 10pt; font-family: 'Times New Roman';">ting relationship, as a fair value hedge in an amount equivalent to the inventories of imported product.</font><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">In thousands</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 75%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Notional amount &#8211; US$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">188,621</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">65,523</font></p>
</td>
</tr>
<tr style="height: 12.75pt;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Result of hedging instruments &#8211; gain/(loss) &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(129,670)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(87,448)</font></p>
</td>
</tr>
<tr style="height: 12.75pt; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fair value adjustment of inventories &#8211; R$</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4,352)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18,468</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">h.2 Cash flow hedge</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries designate, as cash flow hedge</font><font style="font-family: 'Times New Roman';"> for protection against variations arising from exchange rate changes</font><font style="font-family: 'Times New Roman';">, derivative financial instruments to </font><font style="font-family: 'Times New Roman';">hedge</font><font style="font-family: 'Times New Roman';"> firm commitments and non-derivative financial instruments to </font><font style="font-family: 'Times New Roman';">hedge</font><font style="font-family: 'Times New Roman';"> highly probable future transactions.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">the notional amount of foreign exchange hedging instruments for highly probable future transactions designated as </font><font style="font-family: 'Times New Roman';">cash flow</font><font style="font-family: 'Times New Roman';"> hedge</font><font style="font-family: 'Times New Roman';">, related to</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">notes in the foreign market </font><font style="font-family: 'Times New Roman';">totaled US$ </font><font style="font-family: 'Times New Roman';">386,787</font><font style="font-family: 'Times New Roman';"> (US$ </font><font style="font-family: 'Times New Roman';">468,215</font><font style="font-family: 'Times New Roman';"> on December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">On </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">unrealized </font><font style="font-family: 'Times New Roman';">gain</font><font style="font-family: 'Times New Roman';"> of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman';">Other comprehensive income</font><font style="font-family: 'Times New Roman';">&#8221;</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">is</font><font style="font-family: 'Times New Roman';"> R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">7,880 </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">loss of R$ </font><font style="font-family: 'Times New Roman';">315,403</font><font style="font-family: 'Times New Roman';"> on December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">, net of deferred </font><font style="font-family: 'Times New Roman';">IRPJ and CSLL</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> The impacts and balances of cash flow hedge are reco</font><font style="font-family: 'Times New Roman';">gnized at Oxiteno, a group company that was reclassified as held for sale and discontinued operations.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">h.3 Net investment hedge in foreign entities</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company and its subsidiaries designate, as net investment</font><font style="font-family: 'Times New Roman';"> hedge </font><font style="font-family: 'Times New Roman';">in foreign entities, </font><font style="font-family: 'Times New Roman';">notes in the foreign market</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for hedging net investment in foreign entities,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">to offset </font><font style="font-family: 'Times New Roman';">changes</font><font style="font-family: 'Times New Roman';"> in exchange rates.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1 the balance of </font><font style="font-family: 'Times New Roman';">foreign </font><font style="font-family: 'Times New Roman';">exchange hedging instruments designated as net investments </font><font style="font-family: 'Times New Roman';">hedge </font><font style="font-family: 'Times New Roman';">in foreign entities, related to </font><font style="font-family: 'Times New Roman';">part of </font><font style="font-family: 'Times New Roman';">the investments made in entities </font><font style="font-family: 'Times New Roman';">which</font><font style="font-family: 'Times New Roman';"> functional currency </font><font style="font-family: 'Times New Roman';">is </font><font style="font-family: 'Times New Roman';">other than the Brazilian Real, totaled US$ </font><font style="font-family: 'Times New Roman';">95,000</font><font style="font-family: 'Times New Roman';"> (US$ </font><font style="font-family: 'Times New Roman';">95,000</font><font style="font-family: 'Times New Roman';"> on December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">being recognized a loss in &#8220;Other comprehensive income&#8221; of R$</font><font style="font-family: 'Times New Roman';"> 24,064</font><font style="font-family: 'Times New Roman';"> on </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021 (loss of R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">73,108 on December 31, 2020), net of </font><font style="font-family: 'Times New Roman';">deferred income and social contribution taxes</font><font style="font-family: 'Times New Roman';">. The effects of exchange variation on investments and notes in the foreign market were offset in shareholders' equity.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="color: #212121; font-family: 'Times New Roman';">The impacts and balances of </font><font style="color: #212121; font-family: 'Times New Roman';">net investments hedge in foreign </font><font style="color: #212121; font-family: 'Times New Roman';">are recognized at Oxiteno, a group company that was reclassified as held for sale and discontinued operations</font></font></p>
</div>
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="color: #212121; font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>140</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="color: #212121; font-family: 'Times New Roman';"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i. Gains (losses) on </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">h</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">edging </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The following tables summarize the value of gains (losses) recognized, which affected the equity of the Company and its subsidiaries:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 104px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Equity</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 75%; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">a &#8211; Exchange rate derivates receivable in U.S. dollars (i) and (ii) and commodities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(205,680)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 1%; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">b &#8211; Interest rate swaps in R$ (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(101,488)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">c &#8211; Non-derivative financial instruments (iv)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top; border-bottom: 1px solid #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">21,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top; border-bottom: 1px solid #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(753,655)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: top; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(285,621)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: top; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(753,655)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 122px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Equity</font></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 75%; height: 19px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">a &#8211; Exchange rate derivates receivable in U.S. dollars (i) and (ii) and commodities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; height: 19px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">497,210</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 1%; height: 19px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; width: 12%; height: 19px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">b &#8211; Exchange rate derivates payable in U.S. dollars (ii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(330,999)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">80</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">c &#8211; Interest rate swaps in R$ (iii)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">58,131</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top; border-bottom-width: 1px;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">d &#8211; Non-derivative financial instruments (iv)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top; border-bottom: 1px solid #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(919,219)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: top; border-bottom: 1px solid #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(737,471)</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: top; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(694,877)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: top;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: top; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="top">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(737,391)</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 119px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 17px;">
<td style="width: 3%; height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 97%; height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">D</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">oes not consider the effect of exchange rate variation of exchange&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">S</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">waps receivable in U</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">S</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;dollars when this effect is offset in the gain or loss of the hedged item (debt</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">/</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">firm commitments</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Considers the designation effect of foreign exchange hedging</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</font></td>
<td style="height: 17px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">C</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">onsiders&nbsp;the designation effect of interest rate hedging in Brazilian&nbsp;Reais</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">; and</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</font></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 8pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Considers the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">results</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;of notes in&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">foreign market</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;(for&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">more</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;information see Note&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -9.46667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.b).</font></font></td>
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<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><br></p>
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<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>141</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">j. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Fair </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">v</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">alue of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The fair values and the carrying values of the financial instruments, including currency and interest rate hedging instruments, are</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">stated below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 567px; width: 100%;" width="100%">

<tr style="height: 17px;">
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td colspan="3" style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Category</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Carrying value</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">value</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Carrying value</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fair</font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">value</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 26%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial assets:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 25%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 6%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and bank</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">334,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">334,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">405,081</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">405,081</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,561</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,561</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,643,286</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,643,286</font></p>
</td>
</tr>
<tr style="height: 40px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,315</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,315</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities (guarantee of loans)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,251</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,251</font></p>
</td>
</tr>
<tr style="height: 40px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,278,940</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 40px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,278,940</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Currency and interest rate hedging and commodities instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">472,552</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">472,552</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">981,874</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">981,874</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade Receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,438,995</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,367,012</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,391,122</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,369,766</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">998,034</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">992,359</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">968,384</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">965,645</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,900,502</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,822,844</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,031,666</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,007,571</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial liabilities:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,011,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,011,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,308,928</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,308,928</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,082,323</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,380,088</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9,406,013</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,186,947</font></p>
</td>
</tr>
<tr style="height: 29px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,599,525</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,529,439</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,450,751</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,363,621</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,487,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,487,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,093,365</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,093,365</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,348,311</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,348,311</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,833,288</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,833,288</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commodities, currency and interest rate hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">117,159</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">117,159</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,789,954</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,727,724</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,040,652</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,008,457</font></p>
</td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Subscription warrants &#8211; indemnification</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 34px; vertical-align: bottom; border-bottom-width: 1px;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,567,204</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,732,653</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,336,595</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,998,204</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>142</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The fair value of financial instruments, including currency and interest hedging instruments, was determined as follows:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The fair value of cash and bank deposit balances are identical to their carrying values.</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Financial investments in investment funds are valued at the value of the fund unit as of the date of the financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">, which corresponds to their fair value.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in CDBs (Bank Certificates of Deposit) and similar investments offer daily liquidity through repurchase at the &#8220;yield curve&#8221; and the Company calculates their fair value through methodologies commonly used for mark to the market.</font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The fair value of trade receivables and trade payables are approximate to their carrying values</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">and the Company calculates its fair value </font><font style="font-family: 'Times New Roman';">through</font><font style="font-family: 'Times New Roman';"> methodologies commonly used in the market</font><font style="font-family: 'Times New Roman';">.</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The subscription warrants &#8211; indemnification was measured based on the share price of Ultrapar (UGPA3) at the financial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';"> date and are adjusted to the Company&#8217;s dividend yield, since the exercise is only possible starting in 2020 onwards and they are not entitled to dividends until then. The number of shares of subscription warrants &#8211; indemnification is also adjusted according to the changes in the amounts of provision for tax, civil, and labor risks and contingent liabilities related to the period prior to January 31, 2014 </font><font style="font-family: 'Times New Roman';">(</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">ee Note </font><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';">).</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 0pt 28.06pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The fair value calculation of notes in the foreign market is based on the quoted price in an active market</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.b).</font></font></li>
</ul>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The fair value of other financial investments</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> financing </font><font style="font-family: 'Times New Roman';">and leases payable </font><font style="font-family: 'Times New Roman';">was determined using calculation methodologies commonly used for mark-to-market</font><font style="font-family: 'Times New Roman';"> reporting</font><font style="font-family: 'Times New Roman';">, which consist of calculating future cash flows associated with each instrument adopted and adjusting them to present value at the market rates </font><font style="font-family: 'Times New Roman';">as of the date of the </font><font style="font-family: 'Times New Roman';">f</font><font style="font-family: 'Times New Roman';">inancial </font><font style="font-family: 'Times New Roman';">statements</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';"> For some cases where there is no active market for the financial instrument, the Company and its subsidiaries can use quotes provided by the transaction counterparties.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The interpretation of market information on the choice of calculation methodologies for the fair value requires considerable judgment and estimates to obtain a value deemed appropriate to each situation. Consequently, the estimates presented do not necessary indicate the amounts that may be realiz</font><font style="font-family: 'Times New Roman';">able</font><font style="font-family: 'Times New Roman';"> in the current market.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Financial instruments were classified as financial </font><font style="font-family: 'Times New Roman';">assets or </font><font style="font-family: 'Times New Roman';">liabilities measured at amortized cost, except (i) all exchange rate and interest rate hedging instruments, which are measured at fair value through profit or loss, financial investments classified as measured at fair value through profit or loss</font><font style="font-family: 'Times New Roman';"> and</font><font style="font-family: 'Times New Roman';"> financial investments that are classified as </font><font style="font-family: 'Times New Roman';">measured at fair value through other comprehensive income</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">5</font><font style="font-family: 'Times New Roman';">.b</font><font style="font-family: 'Times New Roman';">), (</font><font style="font-family: 'Times New Roman';">ii</font><font style="font-family: 'Times New Roman';">) </font><font style="font-family: 'Times New Roman';">loans and financing </font><font style="font-family: 'Times New Roman';">measured at fair value through profit or loss (see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.a</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> (</font><font style="font-family: 'Times New Roman';">iii</font><font style="font-family: 'Times New Roman';">) guarantees to customers that have vendor arrangements (see Note </font><font style="font-family: 'Times New Roman';">17</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">i</font><font style="font-family: 'Times New Roman';">), which are measured at fair value through profit or loss</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> and (</font><font style="font-family: 'Times New Roman';">iv</font><font style="font-family: 'Times New Roman';">) </font><font style="font-family: 'Times New Roman';">subscription warrants &#8211; </font><font style="font-family: 'Times New Roman';">indemnification</font><font style="font-family: 'Times New Roman';">, which are measured at fair value through profit or loss</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">25</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">. Cash, banks</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> trade receivables</font><font style="font-family: 'Times New Roman';"> and reseller financing</font><font style="font-family: 'Times New Roman';"> are classified as </font><font style="font-family: 'Times New Roman';">measured at amortized cost</font><font style="font-family: 'Times New Roman';">. Trade payables</font><font style="font-family: 'Times New Roman';">, leases</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">payable </font><font style="font-family: 'Times New Roman';">and other payables are classified as financial liabilities measured at amortized cost.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>143</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; break-after: avoid; break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">j.1 </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Fair </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">v</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">alue </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">h</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">ierarchy of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The financial instruments are classified in the following categories:</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(a) </font><font style="font-family: 'Times New Roman';">Level 1 &#8211; prices negotiated (without adjustment) in active markets for identical assets or liabilities;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">(b) </font><font style="font-family: 'Times New Roman';">Level 2 </font><font style="font-family: 'Times New Roman';">&#8211;</font><font style="font-family: 'Times New Roman';"> inputs other than prices negotiated in active markets included in Level 1 and observable for the asset or liability, either directly (as prices) or indirectly (derived from prices).</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The table below shows </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">categories </font><font style="font-family: 'Times New Roman';">of the financial assets and financial liabilities:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 418px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Category</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Level 1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Level 2</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 32%;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial assets:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 30%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 6%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 1%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom; width: 10%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and bank</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">334,547</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,943,164</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,363</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,607,608</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,239</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 34px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">103,239</font></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Currency and interest rate hedging and commodities instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">472,552</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 22px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">472,552</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade Receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,367,012</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">992,359</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,822,844</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial liabilities:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,011,374</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,011,374</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8,380,088</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,529,439</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,487,244</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 25px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,487,244</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,348,311</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 29px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commodities, currency and interest rate hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197,177</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 29px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">197,177</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,727,724</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subscription warrants &#8211; indemnification </font><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; border-bottom: 1px solid #000000; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 12px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">51,296</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; border-bottom: 2.8pt double #000000; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,732,653</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 21px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>144</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 423px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Category</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Note</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Level 1</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Level 2</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 30%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial assets:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 32%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 6%;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and cash equivalents</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Cash and bank</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">405,081</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2,241,852</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,561</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14,561</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial investments:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,643,286</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,643,286</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in local currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,315</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">31,315</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities (guarantee of loans)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">75,251</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Fixed-income securities and funds in foreign currency</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through other comprehensive income</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,278,940</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">30,245</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,248,695</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Currency and interest rate hedging and commodities instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">981,874</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">981,874</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade Receivables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3,369,766</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Reseller Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.b</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">965,645</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">13,007,571</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financial liabilities:</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,308,928</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,308,928</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Financing</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">10,186,947</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5,363,621</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Debentures</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,093,365</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,093,365</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Leases payable</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">14</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,833,288</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Commodities, currency and interest rate hedging instruments</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">17.a</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">117,159</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">117,159</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Trade payables</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at amortized cost</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">18</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4,008,457</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10pt; text-indent: 0.4pt;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Subscription warrants &#8211; indemnification </font><sup><font style="font-family: 'Times New Roman'; vertical-align: super;">(1)</font></sup></font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Measured at fair value through profit or loss</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">25</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">86,439</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">23,998,204</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 8pt;"><font style="font-family: 'Times New Roman';">(1) Refers to subscription warrants issued by the Company in the Extrafarma acquisition.</font></font></p>
</div>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>145</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"><br></font></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">k. </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">Sensitivity </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nalysis</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;"> of </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">d</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">erivative </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">f</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">inancial </font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">nstruments</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The Company and its subsidiaries use derivative financial instruments only to hedge against identified risks and in amounts consistent with the risk (limited to 100% of the identified risk). Thus, for purposes of sensitivity analysis of market risks associated with financial instruments,&nbsp; the Company analyzes the hedging instrument and the hedged item together, as shown on the charts below.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For the sensitivity analysis of foreign exchange hedging instruments</font><font style="font-family: 'Times New Roman';"> as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, management adopted as a </font><font style="font-family: 'Times New Roman';">base</font><font style="font-family: 'Times New Roman';"> scenario the Real/U.S. dollar </font><font style="font-family: 'Times New Roman';">exchange rates at maturity of each swap, projected by U.S dollar futures contracts quoted on </font><font style="font-family: 'Times New Roman';">B3</font><font style="font-family: 'Times New Roman';">. As a reference, the exchange rate for the last maturity of foreign exchange hedging instruments </font><font style="font-family: 'Times New Roman';">is R</font><font style="font-family: 'Times New Roman';">$ </font><font style="font-family: 'Times New Roman';">10.25</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">(R</font><font style="font-family: 'Times New Roman';">$ </font><font style="font-family: 'Times New Roman';">8.23</font><font style="font-family: 'Times New Roman';"> as of December 31, 20</font><font style="font-family: 'Times New Roman';">20</font><font style="font-family: 'Times New Roman';">) </font><font style="font-family: 'Times New Roman';">in the </font><font style="font-family: 'Times New Roman';">base</font><font style="font-family: 'Times New Roman';"> scenario. </font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Based on the balances of the hedging instruments and hedged items as of </font><font style="font-family: 'Times New Roman';">December 31</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">2021</font><font style="font-family: 'Times New Roman';">, the exchange rates were replaced, and the changes between the new balance in Brazilian Reais and the </font><font style="font-family: 'Times New Roman';">original </font><font style="font-family: 'Times New Roman';">balance in Brazilian Reais were calculated in each of the scenarios. The table below shows the change in the values of the main derivative instruments and their hedged items, considering the changes in the exchange rate in the different scenarios:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 284px; width: 99.9988%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; text-decoration: underline;">Risk</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom: 0.5px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Scenario Base</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; width: 60%;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Currency swaps receivable in U.S. dollars</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; width: 25%;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; width: 15%; border-bottom-width: 0.5px;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1) U.S. Dollar / Real swaps</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dollar appreciation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 12px; vertical-align: middle; border-bottom-width: 0.5px;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">137,304</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2) Debts / firm commitments in dollars</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(137,301)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(1)+(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect in result</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Currency swaps payable in U.S. dollars</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3) Real / U.S. Dollar swaps</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dollar devaluation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">49,935,747</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4) Gross margin of Oxiteno/Ipiranga</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(49,935,747)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(3)+(4)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect in result</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cash Flow Hedge</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1) Cash Flow Hedge</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dollar devaluation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">528,360</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2) Debts</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(528,360)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(1)+(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect in equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net Investment hedge in foreign entities</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1) Net Investment Hedge</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Dollar devaluation</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 10px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">252,423</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2) Debts</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px; background-color: #cceeff;" valign="middle"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 17px; vertical-align: middle; background-color: #cceeff; border-bottom: 1px solid #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(252,423)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(1)+(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect in equity</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">For sensitivity analysis of </font><font style="font-family: 'Times New Roman';">hedging instruments for </font><font style="font-family: 'Times New Roman';">interest rate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> in Brazilian Reais</font><font style="font-family: 'Times New Roman';"> as of</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">December 31</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">2021</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">the Company</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">u</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">ed the future</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> curve of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">DI x Pre contract quoted on B3 </font><font style="font-family: 'Times New Roman';">as of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for each </font><font style="font-family: 'Times New Roman';">of the </font><font style="font-family: 'Times New Roman';">swap and debt (hedged item)</font><font style="font-family: 'Times New Roman';"> maturities</font><font style="font-family: 'Times New Roman';">, to determine the </font><font style="font-family: 'Times New Roman';">base</font><font style="font-family: 'Times New Roman';"> scenario</font><font style="font-family: 'Times New Roman';">.</font></font></p>
</div>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>146</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Based on the scenarios of interest rate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> in Brazilian Reais</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">the Company estimated the </font><font style="font-family: 'Times New Roman';">values</font><font style="font-family: 'Times New Roman';"> of </font><font style="font-family: 'Times New Roman';">its</font><font style="font-family: 'Times New Roman';"> debt and hedging instruments according to the risk </font><font style="font-family: 'Times New Roman';">which</font><font style="font-family: 'Times New Roman';"> is being hedged (</font><font style="font-family: 'Times New Roman';">variations in the pre-fixed</font><font style="font-family: 'Times New Roman';"> interest rate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> in Brazilian Reais)</font><font style="font-family: 'Times New Roman';">, by projecting </font><font style="font-family: 'Times New Roman';">them to future value </font><font style="font-family: 'Times New Roman';">at the</font><font style="font-family: 'Times New Roman';"> contracted rates and bringing them to present value </font><font style="font-family: 'Times New Roman';">at</font><font style="font-family: 'Times New Roman';"> the interest rate</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> of the </font><font style="font-family: 'Times New Roman';">estimated</font><font style="font-family: 'Times New Roman';"> scenarios. </font><font style="font-family: 'Times New Roman';">The result</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">shown</font><font style="font-family: 'Times New Roman';"> in the table below:</font></font></p>
<p style="font-size: 11pt; line-height: 115%; margin: 2pt 0pt 10pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 82px; width: 99.8365%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">12/31/2021</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold; text-decoration: underline;">Risk</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Scenario Base</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; width: 60%; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Interest rate swap (Real) &#8211; Debentures - CRA</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; width: 25%; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; width: 15%; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 13px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1) Fixed rate swap - DI</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 13px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Decrease in Pre-fixed rate</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 13px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(20,053,149)</font></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2) Fixed rate debt</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; vertical-align: middle; height: 17px;" valign="middle"><br></td>
<td style="padding-left: 3pt; padding-right: 3pt; background-color: #cceeff; height: 17px; vertical-align: middle; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">20,053,149</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(1)+(2)</font></p>
</td>
<td style="padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect in result</font></p>
</td>
<td style="border-top: 0.5pt solid #000000; padding-left: 3pt; padding-right: 3pt; height: 18px; vertical-align: middle; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">-</font></p>
</td>
</tr>

</table>
<h1 style="margin: 12pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">35</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Commitments (Consolidated)</font></font></h1>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">a. Contracts</font><font style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold;">&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">a.1</font><font style="font-family: 'Times New Roman'; font-weight: bold;"> </font><font style="font-family: 'Times New Roman';">Subsidiary </font><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica</font><font style="font-family: 'Times New Roman';"> has agreements with CODEBA</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">with the</font><font style="font-family: 'Times New Roman';"> Complexo Industrial Portu&#225;rio Governador Eraldo</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Gueiros</font><font style="font-family: 'Times New Roman';"> and with the company Empresa Maranhense de Administra&#231;&#227;o Portu&#225;ria</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> in connection with its port facilities in Aratu</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> Suape</font><font style="font-family: 'Times New Roman';"> and Itaqui</font><font style="font-family: 'Times New Roman';">, respectively. Such agreements establish a minimum cargo movement of products, as shown below:</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Port</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Minimum movement per year</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maturity</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Aratu</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">900</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">000</font><font style="font-family: 'Times New Roman';"> ton.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2022</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Suape</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">250</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">000</font><font style="font-family: 'Times New Roman';"> ton.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2027</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Suape</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">400</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';">000</font><font style="font-family: 'Times New Roman';"> ton.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2029</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Aratu</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">465,403</font><font style="font-family: 'Times New Roman';"> ton.</font></font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2031</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Itaqui</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">1,222,377 m&#179;</font></p>
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<p style="margin: 2pt 0pt 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">2049</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">If the annual movement is less than the minimum contractual movement, the subsidiary is liable to pay the difference between the effective movement and the minimum contractual movement, based on the port tariff rates in effect on the date established for payment. </font><font style="font-family: 'Times New Roman';">As of </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 20</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">1, these rates were R$ </font><font style="font-family: 'Times New Roman';">8.37</font><font style="font-family: 'Times New Roman';"> and R$ </font><font style="font-family: 'Times New Roman';">2.</font><font style="font-family: 'Times New Roman';">67</font><font style="font-family: 'Times New Roman';"> per ton for Aratu and Suape</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">respectively</font><font style="font-family: 'Times New Roman';"> and R$ </font><font style="font-family: 'Times New Roman';">0.</font><font style="font-family: 'Times New Roman';">85</font><font style="font-family: 'Times New Roman';"> per</font><font style="font-family: 'Times New Roman';"> m&#179; for Itaqui</font><font style="font-family: 'Times New Roman';">. </font><font style="font-family: 'Times New Roman';">According to contractual conditions and tolerances, </font><font style="font-family: 'Times New Roman';">on </font><font style="font-family: 'Times New Roman';">December</font><font style="font-family: 'Times New Roman';"> 3</font><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">, 2021 </font><font style="font-family: 'Times New Roman';">there </font><font style="font-family: 'Times New Roman';">were</font><font style="font-family: 'Times New Roman';"> not material pending</font><font style="font-family: 'Times New Roman';"> issues</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">regarding the minimum purchase </font><font style="font-family: 'Times New Roman';">limits</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">of </font><font style="font-family: 'Times New Roman';">the </font><font style="font-family: 'Times New Roman';">contract</font><font style="font-family: 'Times New Roman';">.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>147</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">b. Insurance coverage</font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company </font><font style="font-family: 'Times New Roman';">is supported by </font><font style="font-family: 'Times New Roman';">insurance policies with the objective of covering several risks to which it is exposed</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">In the </font><font style="font-family: 'Times New Roman';">insurance policies </font><font style="font-family: 'Times New Roman';">t</font><font style="font-family: 'Times New Roman';">he maximum compensation values based on the risk analysis of </font><font style="font-family: 'Times New Roman';">certain locations</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The General Liability Insurance program covers the </font><font style="font-family: 'Times New Roman';">Ultrapar</font><font style="font-family: 'Times New Roman';"> and its subsidiaries with a maximum aggregate coverage of US$ </font><font style="font-family: 'Times New Roman';">250</font><font style="font-family: 'Times New Roman';"> million</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">T</font><font style="font-family: 'Times New Roman';">he Company </font><font style="font-family: 'Times New Roman';">maintain</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';"> liability insurance policies</font><font style="font-family: 'Times New Roman';"> for directors</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">executive officers </font><font style="font-family: 'Times New Roman';">and council </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman';">indemnify Ultrapar and its subsidiaries in the total amount of US$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">8</font><font style="font-family: 'Times New Roman';">0 million</font><font style="font-family: 'Times New Roman';">.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, group life and personal accident, health and national and international transportation and other insurance policies are also maintained.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The coverage and limit of the insurance policies are based on a careful study of risks and losses conducted by independent insurance advisors</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">being the </font><font style="font-family: 'Times New Roman';">type </font><font style="font-family: 'Times New Roman';">and amounts </font><font style="font-family: 'Times New Roman';">of insurance </font><font style="font-family: 'Times New Roman';">are</font><font style="font-family: 'Times New Roman';"> considered by management to be sufficient to cover potential losses based </font><font style="font-family: 'Times New Roman';">that may occur in view of</font><font style="font-family: 'Times New Roman';"> the nature of the </font><font style="font-family: 'Times New Roman';">activities</font><font style="font-family: 'Times New Roman';"> conducted by the companies.</font></font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>148</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Ultrapar<font>&nbsp;</font>Participa&#231;&#245;es<font>&nbsp;</font>S.A. and Subsidiaries</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;">Notes to the Parent&#8217;s Separate and Consolidated Financial Statements</p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; font-size: 5px;"><br></p>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><font style="font-style: italic;">(In thousands of Brazilian<font>&nbsp;</font>Reais, unless otherwise stated)</font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"><br></font></p>
<p style="margin: 2pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">c. Area port lease</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On March 22, 2019, Ultrapar, through its subsidiary IPP, won the port concessions of three areas with minimum storage capacity of 64 thousand m&#179; (not reviewed) </font><font style="font-family: 'Times New Roman';">located </font><font style="font-family: 'Times New Roman';">at the port of Cabedelo, in the state of Para&#237;ba, and one area with minimum storage capacity of 66 thousand m&#179; (not reviewed) at the port of Vit&#243;ria, in the state of Esp&#237;rito Santo, which will be designated for handling, storage and distribution of fuels. These concessions were carried out by two consortiums of which IPP holds one third of the total participation. </font><font style="font-family: 'Times New Roman';">For the port of Cabedelo, the companies Nordeste Log&#237;stica I, Nordeste Log&#237;stica II and Nordeste Log&#237;stica III were </font><font style="font-family: 'Times New Roman';">incorporated, in partnership</font><font style="font-family: 'Times New Roman';"> with Ra&#237;zen Combust&#237;vel S.A. and Petrobr&#225;s Distribuidora S.A. </font><font style="font-family: 'Times New Roman';">For the port of Vit&#243;ria, </font><font style="font-family: 'Times New Roman';">the company </font><font style="font-family: 'Times New Roman';">Navegantes</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">was </font><font style="font-family: 'Times New Roman';">incorporated, in partnership</font><font style="font-family: 'Times New Roman';"> with Ra&#237;zen</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Combust&#237;vel S.A. and Petrobr&#225;s</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Distribuidora</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">S.A</font><font style="font-family: 'Times New Roman';">. T</font><font style="font-family: 'Times New Roman';">he total investments regarding IPP&#8217;s stake sums up to R$160 million (not reviewed) for a concession term of 25 years.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On April 5, 2019, Company, through its subsidiary IPP and </font><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica</font><font style="font-family: 'Times New Roman';">, also won three concessions. IPP won two concessions</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">in the port of Miramar, in Bel&#233;m, state of Par&#225;: (i) area BEL02A, through a consortium 50% owned by IPP,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">that shall have minimum storage capacity of 41 thousand m&#179;, and (ii) area BEL04, which is currently operated by IPP with minimum storage capacity of 23 thousand m&#179;. Such areas will be operated for at least 15 years, according to the auction notice.</font><font style="font-family: 'Times New Roman';"> For the area BEL02</font><font style="font-family: 'Times New Roman';">A</font><font style="font-family: 'Times New Roman';">, Latitude was </font><font style="font-family: 'Times New Roman';">incorporated</font><font style="font-family: 'Times New Roman';">, together with Petr&#243;leo</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Sabb&#225;</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">S.A.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica</font><font style="font-family: 'Times New Roman';"> won the concession of area VDC12 in the port of Vila do Conde, in Barcarena, state of Par&#225;. The minimum storage capacity will be 59 thousand m&#179;. The area will be operated by </font><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">for at least 25 years, according to the auction notice.</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">For the area VDC12, Tequimar Vila do Conde was </font><font style="font-family: 'Times New Roman';">incorporated</font><font style="font-family: 'Times New Roman';"> (see Note </font><font style="font-family: 'Times New Roman';">4</font><font style="font-family: 'Times New Roman';">.</font><font style="font-family: 'Times New Roman';">b</font><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';">. T</font><font style="font-family: 'Times New Roman';">he estimated investments regarding the participation of IPP and </font><font style="font-family: 'Times New Roman';">Ultracargo Log&#237;stica</font><font style="font-family: 'Times New Roman';"> sums up to R$ 450 million, approximately, to be disbursed throughout the five years</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">subsequent to the auction</font><font style="font-family: 'Times New Roman';">, </font><font style="font-family: 'Times New Roman';">including the auction grants and the minimum investment required for these areas.</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On April 9, 2021, the Company, through its subsidiary Ultracargo Log&#237;stica, won the auction for leasing the IQI13 area in the </font><font style="font-family: 'Times New Roman';">Itaqui </font><font style="font-family: 'Times New Roman';">port, State of Maranh&#227;o, for storage and handling of liquid bulk</font><font style="font-family: 'Times New Roman';"> products</font><font style="font-family: 'Times New Roman';">, especially fuel</font><font style="font-family: 'Times New Roman';">s</font><font style="font-family: 'Times New Roman';">. In the leased area, a new terminal will be built with a minimum </font><font style="font-family: 'Times New Roman';">installed</font><font style="font-family: 'Times New Roman';"> capacity of 79 thousand </font><font style="font-family: 'Times New Roman';">cubic meters</font><font style="font-family: 'Times New Roman';">. The lease will have a minimum duration of 20 years according to the auction</font><font style="font-family: 'Times New Roman';"> notice</font><font style="font-family: 'Times New Roman';">. For this capacity, an investment of approximately R$</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">310 million is estimated, including the amount related to the grant, to be disbursed in up to six years</font><font style="font-family: 'Times New Roman';"> after signature of the contract</font><font style="font-family: 'Times New Roman';">.&nbsp;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><br></p>
<p style="margin: 10pt 0pt 0pt; page-break-after: avoid; page-break-inside: avoid;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">36</font><font style="font-family: 'Times New Roman'; font-weight: bold;">. Subsequent events</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">a. Issuance of Extrafarma subscription bonus shares</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">On February 2</font><font style="font-family: 'Times New Roman';">3</font><font style="font-family: 'Times New Roman';">, 202</font><font style="font-family: 'Times New Roman';">2</font><font style="font-family: 'Times New Roman';">, the Company</font><font style="font-family: 'Times New Roman';">&#8217;</font><font style="font-family: 'Times New Roman';">s Board of Directors confirmed the issuance of </font><font style="font-family: 'Times New Roman';">43,925 </font><font style="font-family: 'Times New Roman';">common shares within the authorized capital limit provided by art. 6 of the Company's Bylaws,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">due to the partial exercise of the rights conferred by the subscription warrants (see note 25) issued&nbsp;</font></font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">by the Company when the merger of all Extrafarma shares by the Company, approved by the</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">extraordinary general meeting of the Company held in January 31, 2014. The share capital of the&nbsp;</font></font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Company will therefore be represented by 1,115,</font><font style="font-family: 'Times New Roman';">151,608</font><font style="font-family: 'Times New Roman';"> common shares, all of which are</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">registered and without par value.</font></font></p>
<p style="margin: 2pt 0pt 0pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"><br></font></font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;">Message from </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">the </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">Management</font><font style="font-size: 12pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 12pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></p>
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<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The year of 2021 was one of significant transformations for the Ultra Group.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultragaz, Ultracargo and Oxiteno registered record results and profitability in 2021. Ipiranga and Extrafarma, in turn, had lower results in the first semester and, even with an improvement in their operations from the second semester onwards, they didn&#8217;t reach the expected levels of profitability. In this sense, we have implemented a series of operational changes and adjustments geared towards recovering Ipiranga's profitable growth trajectory over the course of 2022 and 2023.&nbsp;</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We made significant progress in our portfolio review strategy, with the signing of the sale agreements of Oxiteno and Extrafarma (still pending approval from the Brazilian competition authority), in addition to the conclusion of the sale of our equity interest in ConectCar.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">It&#8217;s worth mentioning the significant renovation of our management and governance structure carried out in 2021, strengthening the pillars for Ultra Group&#8217;s progress and perpetuity. In April, three new members were elected to Ultrapar&#8217;s Board of Directors, adding even more experience and skills to the Company. The succession of the executive leadership position of Ultra Group and Ipiranga was also carried out, as well as the establishment and subsequent beginning of the process for the succession plan to the Ultrapar&#8217;s Chairman of the Board of Directors, with the conclusion being expected for April 2023. In addition, we also highlight the renewal of the group of managers of Ultra Group and its businesses. </font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, despite the challenges imposed by the coronavirus pandemic, we continued to provide quality products and services to the Brazilian society, without any interruption and also keeping in mind our strict commitment to our employees&#8217; health and safety. We continue focused on supporting society efforts to combat the pandemic, by donating hospital supplies, basic food baskets, LPG and hygiene items. Considering both 2020 and 2021, our contributions to support combating the pandemic amounted to R$ 45 million.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">At the same time, we consolidated our sustainability strategy, which became an intrinsic part of the Company's strategic plan, strengthening the integrated perspective in the decision-making process, considering financial, social, environmental and corporate governance topics. Another highlight is the establishment of the Ultrapar&#8217;s Sustainability and Corporate Affairs executive position, in March 2021.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As to our consolidated financial results, net revenues totaled R$ 119 billion, 46% higher than 2020, as a result of higher revenues in all businesses, except Extrafarma. The Company achieved an EBITDA of R$ 4.1 billion, excluding the effects of Extrafarma&#8217;s impairment and capital gain from&nbsp;ConectCar&#8217;s sale, and a net income of R$ 884 million in 2021, of which R$ 404 million should be distributed as dividends to shareholders. We also highlight the post-investment operational cash generation, which amounted R$ 1.3 billion and contributed to the reduction of our financial leverage in an annual comparison. In September, we issued an Agribusiness Receivables Certificate (locally known as &#8220;CRA&#8221;) in the amount of R$ 960 million and cost of 102.75% of the CDI rate (Brazilian interbank deposit), extending our debt profile. As a result, we ended the year with a cash position of R$ 6.7 billion and an average debt duration of 4.6 years.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar enters 2022 strengthened to increase long-term value creation for its shareholders and other stakeholders and ready for a new cycle of growth.&nbsp;</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We thank all our employees for their commitment and engagement throughout the year and our other stakeholders for trusting our company.</font></p>
<p style="margin: 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Pedro </font><font style="font-weight: bold;">Wongtschowski</font></font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Frederico Fleury Curado</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Marcos Marinho Lutz</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer </font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">until Dec/21</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer </font></p>
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">from Jan/22</font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt; text-align: justify;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Company profile</font></p>
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<font style="font-size: 10pt;"><font style="text-align: justify;">The Ultra Group </font><font style="text-align: justify;">holds</font><font style="text-align: justify;"> 84 years </font><font style="text-align: justify;">of history, with its origin</font><font style="text-align: justify;">s going back to 1937, when </font><font style="text-align: justify;">Ernesto </font><font style="text-align: justify;">Igel</font><font style="text-align: justify;"> founded </font><font style="text-align: justify;">Ultragaz</font><font style="text-align: justify;">,</font><font style="text-align: justify;"> </font><font style="text-align: justify;">a </font><font style="text-align: justify;">company </font><font style="text-align: justify;">which</font><font style="text-align: justify;"> pioneer</font><font style="text-align: justify;">ed the use of</font><font style="text-align: justify;"> </font><font style="text-align: justify;">l</font><font style="text-align: justify;">iqu</font><font style="text-align: justify;">i</font><font style="text-align: justify;">fied </font><font style="text-align: justify;">p</font><font style="text-align: justify;">etroleum </font><font style="text-align: justify;">g</font><font style="text-align: justify;">as (LPG) as cooking gas. Since then, </font><font style="text-align: justify;">Ultrapar</font><font style="text-align: justify;"> </font><font style="text-align: justify;">has </font><font style="text-align: justify;">become one of the largest business groups of </font><font style="text-align: justify;">Brazil</font><font style="text-align: justify;">, investing in essential utility services</font><font style="text-align: justify;">,</font><font style="text-align: justify;"> </font><font style="text-align: justify;">occup</font><font style="text-align: justify;">ying</font><font style="text-align: justify;"> an outstanding position</font><font style="text-align: justify;"> </font><font style="text-align: justify;">in </font><font style="text-align: justify;">their</font><font style="text-align: justify;"> respective segments </font><font style="text-align: justify;">of activity:</font><font style="text-align: justify;"> </font><font style="text-align: justify;">energy</font><font style="text-align: justify;"> </font><font style="text-align: justify;">and infrastructure </font><font style="text-align: justify;">through </font><font style="text-align: justify;">Ipiranga</font><font style="text-align: justify;">, </font><font style="text-align: justify;">Ultragaz</font><font style="text-align: justify;">,</font><font style="text-align: justify;"> and </font><font style="text-align: justify;">Ultracargo</font><font style="text-align: justify;">; specialty chemicals </font><font style="text-align: justify;">through </font><font style="text-align: justify;">Oxiteno</font><font style="text-align: justify;">; and retail pharmac</font><font style="text-align: justify;">y</font><font style="text-align: justify;"> </font><font style="text-align: justify;">with </font><font style="text-align: justify;">Extrafarma</font><font style="text-align: justify;">.</font></font>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 1999, the Ultra Group simultaneously conducted an IPO on the New York Stock Exchange (NYSE) and on the S&#227;o Paulo Stock Exchange (B3 S.A.). Since 2011, the Company&#8217;s shares have been listed on B3&#8217;s Novo Mercado segment.</font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Ultragaz</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A pioneer and leader in the Brazilian market for LPG distribution, Ultragaz is a reference in safety, innovation and development of solutions for its customers, working both on bottled and bulk segments. </font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Ultracargo</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The largest Brazilian private company of liquid bulk storage, Ultracargo is present in the main ports of Brazil, with modern terminals to store and handle chemical products, fuels and vegetable oils. In 2021, Ultracargo expanded its geographic position with the initialization of operation of its new terminal located in Vila do Conde, in the state of Par&#225;.</font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Oxiteno</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A leader in the production of surfactants and specialty chemicals, being focused on innovation and sustainability, Oxiteno is present in eight countries and has eleven industrial units (six in Brazil, three in Mexico, one in the USA and one in Uruguay).</font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Ipiranga</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">One of the largest Brazilian fuels and lubricants distribution companies, incorporating a network of more than 7 thousand service stations, each one of them increasingly completer and more digitized, in addition to the largest convenience store franchise, the AmPm network with 1.8 thousand stores.</font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Extrafarma</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Retail pharmacy network with leading position in the North and Northeast regions of Brazil, located in ten states with about 400 drugstores and four distribution centers.&nbsp; </font></p>
<p style="margin: 12pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">abastece</font><font style="color: #0070c0; font-weight: bold;"> </font><font style="color: #0070c0; font-weight: bold;">a&#237;</font></font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A digital payments company established in 2020 to leverage the benefits of the Km de Vantagens loyalty program and the abastece a&#237; app. In 2021, abastece a&#237; increased in 2 million its number of digital accounts.</font></p>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">During the second year of the coronavirus pandemic, <font style="font-weight: bold;">Ultra</font><font style="font-weight: bold;"> Group</font> once more helped support the Brazilian society. In 2021, approximately R$ 8 million were donated to several initiatives to combat the pandemic and its consequences, totaling about R$ 45 million of contribution in the last two years.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">With the pandemic worsening in the beginning of 2021, the <font style="font-weight: bold;">Ultra Group</font> and 11 other companies joined forces to donate more than 5 thousand oxygen concentrators to the Ministry of Health &#8211; together, the 12 companies invested more than R$ 35 million in this initiative. The Group also donated R$ 1.5 million to Instituto Butant&#227; so that the organization could buy the equipment required for the facility to produce COVID-19 (ButanVac) and influenza vaccines. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultragaz</font> distributed more than 2 thousand oxygen cylinders to hospitals in S&#227;o Paulo and, thanks to its reseller network, the educational and awareness campaign on COVID-19 prevention reached more than 10 million people in 50 Brazilian cities. Ultragaz also donated 8 thousand LPG bottles and more than 2 thousand basic food baskets during the year. <font style="font-weight: bold;">Ultracargo</font> donated about 6 thousand basic food baskets to help communities near its operations. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In a partnership with AkzoNobel, <font style="font-weight: bold;">Oxiteno</font> supported the public school system in the region of Mau&#225;, state of S&#227;o Paulo, in an initiative involving the donation of 1 thousand basic food baskets to the families of students facing a situation of social vulnerability, the renovation of more than 14 thousand m&#178; of school premises and the delivery of masks and alcohol gel to protect students and teachers when the on-site classes return.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In a partnership with the Brazilian Institute of Oil and Gas (IBP) and other companies, <font style="font-weight: bold;">Ipiranga</font> became part of a movement that donated about 4 million medicines necessary for the intubation of COVID-19 patients to the Ministry of Health. Ipiranga also joined forces with the United Nations International Children&#8217;s Emergency Fund (Unicef) and the Gerando Falc&#245;es and Aldeias Infantis NGOs to distribute personal protective equipment (PPEs), hygiene items, food vouchers and basic food baskets. In partnership with the municipal health department, the company also helped to provide the COVID-19 vaccine through the Sa&#250;de na Estrada program.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Together with the Transforma Brasil project, <font style="font-weight: bold;">Extrafarma</font> joined the A Fome Tem Pressa campaign, collecting an amount corresponding to 1.6 thousand basic food baskets thanks to the active participation of its employees &#8211; for each R$ 1 donated by an employee, the company donated the same amount, helping families facing a situation of social vulnerability in the regions of Cear&#225;, Par&#225;, and Rio Grande do Norte states. During 2021, about 20 thousand hygiene items and 2 thousand tons of food were collected to support NGOs such as Associa&#231;&#227;o Comunit&#225;ria Lucas Dantas (ACOLD), Jardim das Borboletas, Hospital Martag&#227;o and G10 Favelas.</font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt; text-align: justify;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Innovation</font></p>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The first innovation event of the Ultra Group was held in 2021 to promote innovation culture, with more than 700 participants. The event lasted two days and had the participation of external lectures and startups.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Through the UVC Investments, a corporate venture capital fund created in 2020, the <font style="font-weight: bold;">Ultra Group</font> has focused on investing in innovative companies and new technologies that are complementary to the Companies&#8217; businesses. The fund, that has already invested in six startups, has been focused on opportunities in three segments: energy, mobility and digital technologies.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">With its own innovation and R&amp;D processes and structures, the businesses of the Group have advanced in their innovation strategies and digital transformation in 2021. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">At <font style="font-weight: bold;">Ultragaz</font>, innovation and technology have guided the work of the Development of Solutions area, providing the market with an average of five new projects per year. Some of the highlights of 2021 include exclusive solutions to the agribusiness industry, automating the post-harvest activities and leading to more efficiency and cost reduction for customers. One of these solutions was Ultragaz Secagem de Gr&#227;os that uses temperature and humidity sensors to control the grains drying process to save energy. There have also been advances in the digital journey. Ultragaz reached 2.2 million downloads in the Ultragaz app and around 1 thousand resellers using the AmigU app, a delivery digitalization program that ensures the orders are sent to the closest dealer and provide customers with real-time delivery tracking. Finally, Ultragaz has made important progress on consolidating digital partnerships with iFood, Recargapay, and Cart&#227;o de Todos.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">At <font style="font-weight: bold;">Ultracargo</font>, the Conecta project, a new managerial and operations systems architecture, has enabled the improvement of the processes and reinforced the level of security of the company&#8217;s transactions, with focus on maximizing the use of the assets and the level of service delivered to the customers, besides improving the supply chain performance. The project has already been implemented in the headquarter and in the terminals located in Itaqui (state of Maranh&#227;o), Suape (state of Pernambuco) and Vila do Conde (state of Par&#225;) and will be implemented in other terminals in 2022. Furthermore, the implementation of the SOUL (Ultracargo Operations System) project has provided relevant gains in security and productivity, based on a new philosophy of continuous improvement of the processes, optimization of terminals operation and reducing losses. Finally, the company has also begun implementing the Soul+ Program, a program of ideas to encourage employees to propose innovative solutions that can be easily implemented to improve the operations performance.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Considering the whole open innovation ecosystem, which includes startups, companies, consulting firms, universities and institutes of science and technology, <font style="font-weight: bold;">Oxiteno</font> signed 33 contracts in 2021 &#8212; 8 of them being concept of proofs with startups, and 4 out of these 8 implemented in 2021. Working with co-funded partnerships, Oxiteno has been developing three projects with the Brazilian Company of Industrial Research and Innovation (EMBRAPII) and the Institute of Technological Research (IPT) of S&#227;o Paulo. Oxiteno also counts with the expertise of more than 20 scholarship researchers from Inova Talentos program from the Euvaldo Lodi Institute (IEL) developed in partnership with the Brazilian Council for the Scientific and Technological Development (CNPq), and from 10 other CNPq scholarships for students on Undergraduate Research Internship, Master&#8217;s Degree and Doctorate for Innovation (MAI/DAI). In 2021, 16 patent requests were filed, with 8 of them being granted. Oxiteno also registered 64 new products with sales started in 2021. Oxiteno&#8217;s digital innovation laboratory, Xlab, transformed 36 ideas into products or solutions to meet demands from different areas of the company.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ipiranga</font> created in 2019 an innovation hub named Turbo to foster the interaction between the company and startups and to promote innovation culture. This hub enabled the company to receive two awards: winner on the Retail and Distribution category of the 100 Open Startups 2021 ranking and second position on the award in the Oil and Gas and Petrochemistry category from Valor Inova&#231;&#227;o award, which positioned Ipiranga among the most innovative companies in Brazil. Another highlight for Ipiranga in 2021 was the Ipiranga-Cebrap Challenge: Mobility and Trends. The challenge was created by Turbo and the Brazilian Center of Analysis and Planning (Cebrap) to encourage the production of scientific knowledge about urban mobility. In September, during the Urban Mobility Week, Turbo also released a webinar series Mobilidade em Transi&#231;&#227;o (Transitioning Mobility) to promote discussions about mobility challenges.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The digital transformation initiatives of <font style="font-weight: bold;">Extrafarma</font> also advanced this year. A highlight of this transformation was the creation of the 360 app that helps on the dynamics of displaying the products in the physical drugstores and also on the communication and negotiation with the industry.</font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt; text-align: justify;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Sustainability and ESG Performance</font></p>
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<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultra Group</font><font style="font-weight: bold;">&#8217;</font><font style="font-weight: bold;">s</font> sustainability journey bared significant progress in 2021. The materiality matrix was updated to incorporate the topics of Data privacy and Ethics and integrity into the new topic of Governance and integrity, which encompasses the corporate governance structure. Two topics were also renamed &#8211; Relations with the local community was changed to Responsibility with the community, highlighting the focus on the communities surrounding the operations; and Culture of innovation, inclusion and excellence was changed to Inclusive culture and diversity, further highlighting the promotion of diversity and inclusion. The current materiality matrix of the Group is comprised of seven topics: </font></p>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eco-efficient operations</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Responsibility with the community</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Value chain</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inclusive culture and diversity</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Health and safety</font></li>
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<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">With the creation of the Executive Directory of Sustainability in 2021, the company&#8217;s sustainability management model was strengthened and now coordinates ESG actions plan. ESG topics were also recurringly discussed during the meetings of the Executive Board, the Risks and Audit Committee and the Board of Directors of the Ultra Group. The company also elevated environmental, social and governance risks to strategic risks, improving the monitoring of such risks in each of its businesses and in the organization.&nbsp;</font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group has adhered to the United Nations Global Compact, reinforcing the commitment to the Sustainable Development Goals and the principles of the Compact, such as human and labor rights, environmental care, and anticorruption measures, strengthening the actions already undertaken. Ultragaz and Ipiranga have on their own been working with the Global Compact for more than a decade, while Oxiteno started in 2020. </font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Specific work groups (WGs) for the material topics were created, with about 250 people from the Holding and the businesses, to better understand the impacts and opportunities related to those topics and to develop a sustainable macro strategy for the organization. The WGs will keep working in 2022 and proceed with the follow-up on the action plans developed to achieve the goals. </font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">Management of sustainability in business</font><font style="color: #0070c0; font-weight: bold;">es</font></font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Each company from the Ultra Group has its own materiality matrix. The topics are aligned to the Group&#8217;s priorities and take into consideration the specifics from their industries and the level of maturity of each business in the management of sustainability.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultragaz</font> launched the Ultragaz Mais Sustent&#225;vel ESG journey, a plan grounded over four pillars: human energy, energy for innovation, civic energy and ethical energy. <font style="font-weight: bold;">Ultracargo</font> developed and validated its Strategic Sustainability Plan setting its own specific targets and with the aim of strengthening the governance over the sustainability indicators and initiatives. <font style="font-weight: bold;">Oxiteno</font> has consolidated the action of the Sustainability Steering Committee, comprised of the senior leadership of the company, that follow the progress of the Strategic Sustainability Plan 2030. Besides updating its materiality matrix, <font style="font-weight: bold;">Ipiranga</font> focused on structuring and fostering its actions and the maturity of its own sustainability culture by focusing on engagement and specific skills for the teams. <font style="font-weight: bold;">Extrafarma</font> is still working with its Strategic Plan, with its senior leadership comprising a committee to keep track of the initiatives.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">ESG ratings and indexes</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Ultra Group is under the assessment of different indexes and ratings that assess and classify organizations according to ESG criteria. Some of these include:</font></p>
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<li style="font-family: Symbol; font-size: 9pt; margin: 6pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">MSCI ESG (Morgan Stanley Capital International)</font>,<font style="font-weight: bold;"> </font>which ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC). The Ultra Group&#8217;s current rating is A. </font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 6pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">FTSE4Good</font>,<font style="font-weight: bold;"> </font>which grants score out of a scale from 0 to 5 for each ESG factor (environmental, social and governance). The Ultra Group reached a score of 3 and is part of two indexes: FTSE4Good Emerging Index and FTSE4Good Emerging Latin America Index.</font></li>
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<li style="font-family: Symbol; font-size: 9pt; margin: 6pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">ICDPR70 (Brazil Climate Resilience Index &#8211; CDP): </font>the Ultra Group is part of the portfolio in force until March 31, 2022. The Group achieved this score thanks to its performance in the CDP (Carbon Disclosure Project) Climate Change 2020 questionnaire, achieving the B score.</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 6pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">ICO2 (</font><font style="font-weight: bold;">Efficient Carbon</font><font style="font-weight: bold;"> Index) &#8211; B3</font>, which Ultra Group has been part of since 2012.</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 6pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">IGC (Differentiated Corporate Governance Index) </font>and<font style="font-weight: bold;"> ITAG (Differentiated Tag Along Index) &#8211; B3</font>, which<font style="font-weight: bold;"> </font>Ultra Group has been part of since 2011.</font></li>
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<p style="margin: 0px; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Environmental performance</font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Energy transition&nbsp;</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The presence of <font style="font-weight: bold;">Ultra Group</font> in the energy and infrastructure sectors, through Ultragaz, Ultracargo and Ipiranga, justifies the relevance of the energy transition as one of the material topics.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under our view that Brazil will play a crucial part in the transition to a decarbonized economy, the Company signed the Empres&#225;rios pelo Clima (Entrepreneurs for the Climate) letter in 2021, disclosed by the Brazilian Corporate Council for the Sustainable Development (CEBDS) on the eve of the 26th United Nations Climate Change Conference (COP26). </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The businesses have been monitoring its GHG emissions and invested in several reduction initiatives. Every year the <font style="font-weight: bold;">Ultra Group</font> answers the CDP&#8217;s Disclosure, Insight, Action questionnaire assessing how the companies have managed the climate change topic. In 2021, the Group reached the C score (awareness level).</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ipiranga</font> is involved in pilot initiatives related to electric mobility, keeping itself updated of the main trends of this topic. In a partnership with BMW, Ipiranga has installed electric car charging units in 44 of its service stations, located in 10 states plus the Federal District. In 6 gas stations located at Presidente Dutra highway, Ipiranga has installed fast chargers again in a partnership with BMW and EDP. Besides that, Ipiranga has also signed in 2021 another partnership to install new electric car charging units in the service stations in S&#227;o Paulo and Rio Grande do Sul states. As part of its Carbono Zero Program, since 2014 Ipiranga has offset 100% of its direct (scope 1) and indirect (scope 2) emissions purchasing carbon credits. The company also offers compensation initiatives to its customers. Along with trading biofuels, Ipiranga&#8217;s portfolio presents options with additives that improve the vehicles&#8217; performance, such as DT Clean gasoline and S10 RendMax diesel, which reduce not only the fuel consumption per kilometer, but also the emissions of pollutants.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultragaz</font> has worked in the development of solutions to replace the most polluting energy sources for LPG and to allow the most efficient consumption of this input, thus contributing to reduce its customers&#8217; carbon footprint.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultracargo</font> prepared an inventory of emissions to obtain more accurate data and cooperate in the development of its climate change strategy. Besides that, the company seeks to identify technologies to reduce its direct emissions. The scope 2 emissions from the acquisition of electric energy were zeroed out in 2021 thanks to the migration to renewables sources, ensured by International REC Standard (I-REC) certificates &#8211; global system that ensure the tracking of the renewable energy origin. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Oxiteno</font> defined the projects to be implemented to achieve a 25% reduction in emission intensity by ton of product produced in 2030. Oxiteno also finished its first analysis on the climate-related financial risks and became a member of the Ambi&#231;&#227;o Net Zero program, a UN Global Compact initiative.</font></p>
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<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">Eco-efficient operations</font></font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The <font style="font-weight: bold;">Ultra Group</font> is committed towards the responsible and efficient use of natural resources and correct waste management. In regards to energy, it has implemented several initiatives to optimize the use of electric energy consumption that have a positive impact on the Company&#8217;s scope 2 emissions. At <font style="font-weight: bold;">Ultracargo</font>, Aratu (state of Bahia), Itaqui (state of Maranh&#227;o), Suape (state of Pernambuco) and Santos (state of S&#227;o Paulo) terminals, which represent more than 90% of the company&#8217;s total consumption, are powered by renewable energy contracted from the free market. <font style="font-weight: bold;">Ultragaz</font> operations ended 2021 powered only by certified renewable energy, while <font style="font-weight: bold;">Ipiranga</font> is obtaining renewable energy certificates for all its units (bases, offices, and pools). In a partnership with the specialized company GDSolar, Ipiranga is also building 14 solar power plants to supply its services stations and franchises. In 2021, <font style="font-weight: bold;">Extrafarma</font> opened two solar power plants, one in Marab&#225; (state of Par&#225;) and the other in Cedro (state of Cear&#225;), with an electricity generation equivalent to the energy consumed by 200 of its drugstores. There are two other biogas power plants operating since 2020.&nbsp;</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Some actions have been focused on water efficiency as well. <font style="font-weight: bold;">Ultracargo</font><font style="font-weight: bold;"> </font>has rainwater harvesting systems in its terminals located in Santos (state of S&#227;o Paulo), Itaqui (state of Maranh&#227;o) and Vila do Conde (state of Par&#225;). For the Itaqui terminal, Ultracargo has been reusing water in the hydrostatic tests of the stage III expansion works and in the construction of the Vila do Conde terminal, saving 133 thousand m&#179; of water. <font style="font-weight: bold;">Oxiteno</font><font style="font-weight: bold;"> </font>started in 2021 the implementation of an innovative solution to sanitize trucks transporting the company&#8217;s products, in partnership with startups, reducing the volume of water required to the process by 99%. The estimative is that 700 thousand liters of water can be saved per year. <font style="font-weight: bold;">Extrafarma</font> has implemented several actions to optimize the use of water, with a 30% reduction of the company&#8217;s total consumption in 2021. Since 2020, <font style="font-weight: bold;">Ultra Group</font> answers the CDP&#8217;s Water Security questionnaire and, in 2021, the Group maintained the B score (management level).</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Concerning waste management, Mau&#225; (state of S&#227;o Paulo) unit was the first of <font style="font-weight: bold;">Ultragaz</font> to stop transporting waste to landfills and in 2021 it was certified with the Aterro Zero seal. The company also has been very involved in water consumption reduction initiatives involving its operations, with a 14% reduction of water consumption per LPG ton sold. <font style="font-weight: bold;">Oxiteno</font> has been developing a pilot project with a specialized startup to test alternatives for waste resulting from its industrial processes. This initiative has been influenced by a goal of making Oxiteno an Aterro Zero company in terms of industrial waste. The only exception is the operation of Uruguay, as the country has no alternatives for waste management.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">Social p</font><font style="color: #0070c0; font-weight: bold;">erformance</font></font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">Responsibility </font><font style="color: #0070c0; font-weight: bold;">with</font><font style="color: #0070c0; font-weight: bold;"> the community</font></font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, the <font style="font-weight: bold;">Ultra Group</font> set forth two priorities to potentialize the impacts of its social actions &#8211; education and entrepreneurship. Six priority areas surrounding the operations have been chosen for a diagnostic assessment and the results will set the foundations for the social operations to be undertaken in those areas for the next years. The selected areas were:&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Aratu-Candeias (state of Bahia) &#8211; Ultracargo and Oxiteno</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">S&#227;o Lu&#237;s-Itaqui (state of Maranh&#227;o) &#8211; Ultragaz, Ultracargo and Ipiranga</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Betim (state of Minas Gerais) &#8211; Ultragaz and Ipiranga</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 0pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Santos-Cubat&#227;o (state of S&#227;o Paulo) &#8211; Ultragaz, Ultracargo and Ipiranga</font></li>
<li style="font-family: Symbol; font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 9.14pt; padding-left: 8.86pt; page-break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Canoas (state of Rio Grande do Sul) &#8211; Ultragaz and Ipiranga&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></li>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Instituto Ultra is being revitalized to support the social performance of the Company, maintaining the businesses self-sufficiency, and impacting the priority areas even more.&nbsp;</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Along defining the main priorities to be focused upon, the Group has maintained and supported social responsibility initiatives. In 2021, more than R$ 13 million have been allocated to several projects, from Company&#8217;s own funds and from incentive laws. At the beginning of 2022, Ultragaz, Ultracargo, Oxiteno and Ipiranga donated 8 thousand basic food baskets to the flood victims in the South region of Bahia, while Ipiranga also delivered more than 10 thousand liters of drinking water to the impacted area. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">During 2021, <font style="font-weight: bold;">Ultragaz</font> participated in three awareness campaigns. The first one was a partnership with the Brazilian Society of Hypertension and it involved using its reseller network to distribute educational materials about hypertension, reaching more than 3 million people. The second one also involved its resellers distributing releases about the Que Corpo &#201; Esse? (What is this Body?) show, produced by the NGO Childhood Brasil, Unicef, and the TV channel Futura. The show is part of the project Crescer sem Viol&#234;ncia (To grow without violence) and has impacted more than 10 million people. The third campaign was named O Menino da M&#225;scara Amarela (The Boy in the Yellow Mask) and was aimed to provide COVID-19 prevention awareness. More than 23 million people have been impacted by these educational campaigns during the year. Ultragaz has also taken part in women&#8217;s empowerment initiatives: a project in partnership with AFESU (Women&#8217;s Association of Social and University Studies) of qualifying young women that are socially vulnerable so they can have better job opportunities; a partnership with Consulado da Mulher (Consul) and Ita&#250; Social to help educate low-income women; a partnership with Rede Mulher Empreendedora to implement a qualification program to promote entrepreneurship; thematic workshops for women at Instituto Alavanca and FIA (Funda&#231;&#227;o Instituto de Administra&#231;&#227;o); and development of women&#8217;s financial emancipation and women&#8217;s rights awareness programs in partnership with ASPLANDE.&nbsp; </font></p>
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<p style="margin: 0px; break-inside: avoid; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In a partnership with FAENE (Faculdade de Neg&#243;cios), <font style="font-weight: bold;">Ultracargo</font> offered a free capacity-building course to port logistics operators, promoting employability in the surroundings areas of the newly opened terminal in Vila do Conde, Barcarena (state of Par&#225;). Ultracargo&#8217;s partnership with Instituto Ayrton Senna resulted in the implementation of a project at municipal public schools involving helping students from the 6th to the 9th grades of the Elementary Education in S&#227;o Lu&#237;s (MA) to develop social and emotional skills. Ultracargo expects to reach more than 10 thousand students in 2022. The company has also been maintaining the support to the Na M&#227;o Certa program to prevent the sexual exploitation of children and adolescents in Brazilian highways, to the newspaper Comunidade em A&#231;&#227;o award from the A Tribuna de Santos (SP) that recognizes social projects in the area and to Polo de Cidadania, an initiative from Comit&#234; de Fomento do Polo Industrial de Cama&#231;ari (COFIC) to provide free health services to the communities of Cama&#231;ari (state of Bahia) and Dias D&#8217;&#193;vila (state of Bahia).</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Oxiteno</font> has updated its social operation strategy and released the Conectar volunteer program. The company also joined the UN Global Compact&#8217;s Young SDG Innovators Program with a digital transformation project and supporting the ODS Eu Pratico campaign to make the SDGs reach more people. Oxiteno also stood out structuring the Social Innovation and Entrepreneurship Challenge, released at the beginning of 2022, and aims to attract entrepreneurs and startups so they can develop sustainable solutions to address social issues. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ipiranga</font><font style="font-weight: bold;"> </font>promoted the 14th edition of the traveling program Sa&#250;de na Estrada (Health in the highways) to provide free health care service to truck drivers and travelers in the Brazilian highways along with people living in neighboring areas of the service stations taking part in the program. In 2021, 107 Ipiranga Rodo Rede service stations from 99 cities located in 19 Brazilian states held 123 events, covering over 28 thousand kilometers and providing over 57 thousand health care appointments. Keeping in mind Ipiranga&#8217;s social operational and employee engagement, the company went even further with its volunteer program, donating more than 2 thousand hours of volunteer work. Ipiranga&#8217;s actions in themes such as innovation, sustainability, entrepreneurship, and diversity reached students from public schools in the surrounding areas. Ipiranga has maintained its support to the Na M&#227;o Certa program to combat the sexual exploitation of children and adolescents in highways. During the year, the company released awareness campaigns aimed at drivers and with specific actions, impacting more than 100 representatives from contracted shipping companies. </font></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="color: #0070c0; font-size: 10pt; font-weight: bold;">Value chain</font><br></p>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To increase its positive impacts in society, <font style="font-weight: bold;">Ultra Group</font> seeks to support the financial, social and environmental development of its value chain (suppliers, Ultragaz resellers and Ipiranga resellers and franchisees). Before contracting services or companies, the Risks, Compliance, and Audit department investigates their reputation to ensure they comply with all the legal requirements and the Group&#8217;s ethical and integrity principles.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group also seeks to engage its business partners to take part in the sustainability journey. <font style="font-weight: bold;">Ultragaz</font> has developed two programs: the first one is aimed at critical suppliers, helping them implement best practices in their respective operations, obtaining a participation of 95% in the Carbon Disclosure Project programs (Water Resources and Climate Change); the second program involves developing educational content to help implement the practices related to the topic. Besides that, the Ultragaz&#8217;s program of reseller excellence, named Desafio Lapidar, has been introducing ESG best practices to its reseller network. Resellers have also been important allies to the company&#8217;s social and environmental impact actions. When the operations started in the Miramar (state of Par&#225;) and Mucuripe (state of Cear&#225;) bases, the surrounding resellers were invited to take part in the Ultragaz Reduz campaign to distribute leaflets promoting the conscious consumption of water and energy, besides the need for reduction of emissions of harmful air pollutants.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultracargo</font><font style="font-weight: bold;"> </font>started its Compliance and Anticorruption Policy Training with the suppliers acting as external representatives and ensured all its employees have been informed about anticorruption policies and procedures, with 99.7% of them being trained in this specific topic.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As one of the pillars of the 2030 Strategic Sustainability Plan, <font style="font-weight: bold;">Oxiteno</font> reworked its supplier relationship program in 2021. In the program, suppliers are ranked based on their EcoVadis assessment performance, which analyzes topics concerning labor practices, human rights, ethics, sustainable acquisitions and environmental and the Supplier Quality Index (IQF) that considers aspects such as quality, service level and delivery. The best assessed suppliers are prioritized by Oxiteno&#8217;s supply strategy. The company uses the program to also support its partners in developing initiatives to improve their practices and processes.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ipiranga</font> has learned a lot with the Jornada do Revendedor (Reseller journey) project, created in 2019 to bring the company and reseller network closer, allowing Ipiranga to continuously improve its relationship stages throughout all levels. The highlights were the creation of the Ipiranga Top program to promote the adoption of best management practices and award the most engaged resellers and the launch of the Fique Ligado Whatsapp communication channel to ensure relevant information can be transmitted as fast as possible to resellers and franchisees. There is also a specific strategy for VIPs (employees from Ipiranga service stations) that includes a series of training and recognition actions. In 2021, more than 40 thousand VIPs from more than 4 thousand service stations received training from Escola de Varejo (Retail school), totaling more than 300 thousand hours of instruction.</font></p>
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<p style="margin: 0cm 0cm 0.0001pt; font-size: 10pt; font-family: 'Century Gothic', 'sans-serif'; color: #000000;"><font lang="PT-BR" style="font-size: 14.0pt; mso-bidi-font-size: 9.5pt; font-family: 'Open Sans','sans-serif'; color: #051272; mso-themecolor: accent1;"><font style="font-family: 'times new roman', times;">2021 MANAGEMENT REPORT</font> </font><font lang="PT-BR"></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" alt="Image1"></font></p>
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<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #0070c0; font-weight: bold;">Inclusive culture and diversity</font><font style="color: #0070c0; font-weight: bold;"> </font></font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultra Group</font> ended 2021 with 16 thousand employees that have several opportunities to develop themselves and go further in their career in the Company. As one of the material topics, the Group decided to seek more gender and ethnical equality and inclusion in the administration and leadership positions of the Holding and the other businesses. The Company will also focus on strengthening its work environment making it more inclusive in regards to accessibility, respect, and representation.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, the <font style="font-weight: bold;">Holding</font> released its diversity manifesto and performed a diversity and inclusion survey with its employees. For 2022, the Holding expects to create the Diversity Committee that should help further progress on developing this topic.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">After structuring the Diversity and Inclusion Committee in 2020, <font style="font-weight: bold;">Ultragaz</font> released its Diversity Program with strategic priorities and operational pillars. Along with the constant use of its communication channels to highlighting the importance of this topic, the company also conducted diversity workshops with its leadership. Ultragaz also conducted a diversity and inclusion survey with its employees and 74% of them answered they felt the work environment was safe in terms of diversity and inclusion, while 77% of them believe the company is undertaking actions to increase diversity among the employees. The company also developed a focus group with cis and trans women to discuss initiatives for women and a mentorship program for women in a leadership position from production areas.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In Brazil, <font style="font-weight: bold;">Oxiteno</font><font style="font-weight: bold;"> </font>structured the affinity groups of its Diversity Program (women, professionals with disabilities, LGBTQIA+ and racial/ethnic). The Diversity Program was also released in the USA and Mexico operations. Another highlight was its adhesion to the UN Global Compact&#8217;s Equity is Priority campaign. The company also conducted cultural sensitivity training with the leadership, revitalized its internship programs to promote the hiring of more black employees, women and LGBTQIA+ employees, and has been working with specialized consulting services in strategies to attract more professionals with disabilities.</font></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-size: 10pt;">As part of its Diversity Program,<font style="font-weight: bold;"> </font><font style="font-weight: bold;">Ipiranga</font> joined the Women&#8217;s Empowerment Principles (WEPs), an initiative from both the UN Global Compact and the UN Women, as well as to the Sim &#224; Igualdade Racial (Yes to Racial Equality) seal granted by Instituto Identidades Brasil (Brazil Identities Institute). During both cycles of its internship program in 2021, Ipiranga allocated 50% of its intern positions to applicants self-declared as black and of the approved applicants, 66% of them effectively were black. In terms of gender, Ipiranga ended 2021 with 43% of its Executive Board comprised of women (3 out of 7 members), conducted a career acceleration program with 30 employees (Women Speed), and in addition to this 75% of the new jobs within the trainee program are held by women. Ipiranga also participated in the Diver S/A (for LGBTQIA+ professionals) and Inclui PcD (for professionals with disabilities) job fairs. The company ended the year providing a new benefit to same-sex couples: a 180-day leave to LGBTQIA+ employees of any gender who are taking care of their newborns.</font></p>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Extrafarma</font> had a Diversity Program in place since 2019, but in 2021 it conducted the first survey of its employees to structure more assertive actions towards diversity. The company also released a diversity track in its distance learning paths, totaling 42 paths, and held engagement and sensitivity events, such as the Women&#8217;s Week, the Diversity Week and the Forum for the Black Awareness.&nbsp;</font></p>
<p style="margin: 10pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Number of employees</font><font style="font-weight: bold;"> </font></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="60%" style="height: 208px; border-collapse: collapse; width: 60%; font-family: 'times new roman'; font-size: 10pt; margin-left: auto; margin-right: auto;">

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<td colspan="4" height="33" width="493" style="height: 24px; width: 99.3878%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10.5pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: center; background: #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Number of employees by business</font></td>
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<td height="8" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; width: 27.7551%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 27.1429%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
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<td height="27" style="height: 20px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #1f497d; border-right: 1pt solid #44546a; border-bottom: none; border-left: 1pt solid #1f497d; border-image: initial; white-space: nowrap; text-align: center; background: white; width: 27.7551%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td rowspan="2" style="border-width: 1pt; border-style: solid; border-color: #1f497d #44546a; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-image: initial; white-space: nowrap; text-align: center; background: white; height: 30px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></td>
<td rowspan="2" style="border-width: 1pt; border-style: solid; border-color: #1f497d #44546a; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-image: initial; white-space: nowrap; text-align: center; background: white; height: 30px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2020</font></td>
<td rowspan="2" width="134" style="border-width: 1pt; border-style: solid; border-color: #1f497d #1f497d #1f497d #44546a; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-image: initial; white-space: normal; text-align: center; background: white; height: 30px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#916; (%)</font><br><font style="font-family: 'times new roman', times; font-size: 10pt;"><font class="font5">employees<br>2021 vs 2020</font></font></td>
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<td height="27" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #44546a; border-bottom: 1pt solid #1f497d; border-left: 1pt solid #1f497d; border-image: initial; white-space: nowrap; text-align: center; background: white; width: 27.7551%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
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<td height="8" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; width: 27.7551%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 10px; width: 27.1429%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
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<td height="22" width="139" style="height: 16px; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid #44546a; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultragaz</font></td>
<td width="110" style="border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,387</font></td>
<td width="110" style="border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,397</font></td>
<td width="134" style="border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0%</font></td>
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<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultracargo</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">870</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">926</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-6%</font></td>
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<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oxiteno</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,871</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,851</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ipiranga&#185;</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,008</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,378</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">19%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Extrafarma</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,713</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,921</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-4%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">abastece a&#237;</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">138</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">68</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">103%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; border-top: none; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: italic; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Holding&#178;</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">455</font></td>
<td width="110" style="border-top: none; border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">405</font></td>
<td width="134" style="border-top: none; border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">12%</font></td>
</tr>
<tr style="height: 6px;">
<td height="8" style="height: 6px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; width: 27.7551%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 6px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 6px; width: 22.2449%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 6px; width: 27.1429%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="139" style="height: 16px; width: 27.7551%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid #44546a; white-space: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></td>
<td width="110" style="border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">16,442</font></td>
<td width="110" style="border-left: none; width: 22.2449%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15,946</font></td>
<td width="134" style="border-left: none; width: 27.1429%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3%</font></td>
</tr>

</table>
<table style="width: 60%; font-family: 'times new roman'; font-size: 10pt; margin-left: auto; margin-right: auto; height: 34px;">

<tr style="height: 17px;">
<td style="width: 100%; height: 17px;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#185;&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Includes 780&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">AmPm&#8217;s</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;employees in 2021 and 296 in 2020 &#8211; higher&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">number of&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">company-operated stores</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="width: 100%; height: 17px;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#178;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;Includes 323&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">employees of the&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Shared Services</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;Center&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">(SSC)&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">in 2021 and 279 in 2020</font></font></td>
</tr>

</table>
<p style="margin: 0pt; text-indent: 28.35pt;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&nbsp;</font></p>
<div style="border-right: none; border-left: none;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>158</font></font></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 123px;">

<tr style="height: 106px;">
<td style="width: 50%; height: 106px; vertical-align: bottom; padding: 0px 0px 10px;" valign="bottom">
<p style="margin: 0cm 0cm 0.0001pt; font-size: 10pt; font-family: 'Century Gothic', 'sans-serif'; color: #000000;"><font lang="PT-BR" style="font-size: 14.0pt; mso-bidi-font-size: 9.5pt; font-family: 'Open Sans','sans-serif'; color: #051272; mso-themecolor: accent1;">2021 MANAGEMENT REPORT </font><font lang="PT-BR"></font></p>
</td>
<td style="width: 50%; height: 106px; vertical-align: bottom;" valign="bottom">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" alt="Image1"></font></p>
</td>
</tr>

</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="color: #0070c0; font-size: 10pt; font-weight: bold; font-family: 'times new roman', times;">Health and safety</font><br></p>
</div>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Holding and the businesses have policies, tools, and programs in place to ensure the health and safety of its employees, third-party professionals, and suppliers. Management also seeks to ensure the safety of the processes to avoid negatively impacting the environment and the communities living close to the Company&#8217;s operations. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group has a Safety Committee to amplify good practices and follow indicators from all the businesses. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, <font style="font-weight: bold;">Ultra Group</font> continued upholding all the measures required to protect employees&#8217; health during the pandemic and monitored all those who tested positive for COVID-19 until they were recovered. The Company also monitored how many employees were getting vaccinated, which is an important data to resume on-site working of the teams that have been working from home. By the end of 2021, the Group had 79% of its employees fully vaccinated. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company also invested in mental health support programs for its employees. The <font style="font-weight: bold;">Holding</font>, for example, announced the Ultra Bem-Estar (Well-being) project, in which employees receive a daily online questionnaire and based on the answers, the health team contacts employees to better understand what is going on and, if necessary, the health team then makes the link between the employee and a specialized treatment with psychologists and psychiatrists. <font style="font-weight: bold;">Oxiteno</font> also prepared a campaign to raise mental health awareness among the teams. <font style="font-weight: bold;">Ipiranga</font><font style="font-weight: bold;"> </font>started a partnership with a wellness platform, providing online specialized professional consultation, content and podcasts that contribute to emotional health.&nbsp;&nbsp; </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Related to safety, <font style="font-weight: bold;">Ultragaz</font> prioritized actions to consolidate its safety culture. These actions involved individual interviews, discussion groups and field trips to some operational units to help the company understand the diagnosis on the safety topic. The company also consolidated the Valoriza Program, which covers integrative health topics with its employees. <font style="font-weight: bold;">Ultracargo</font> also assessed its employees to have a diagnosis of the company&#8217;s safety maturity level. The company implemented the Human Factor-Based Accident Analysis Committee to understand and identify the causes of deviations and accidents as well as the development of the maturity stages in occupational and process safety. The diagnosis led to the development of the Strategic Plan for the Safety Culture Transformation. Some of <font style="font-weight: bold;">Oxiteno</font>&#8217;s actions involved the senior leadership undertaking capacity building and adhering to the Center for Chemical Process Safety (CCPS) for the American Institute of Chemical Engineers (AIChE), a world reference in process safety. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ipiranga</font> also assessed its safety culture diagnosis in 2021. The process considered the perceptions of employees, including leaderships and administrative and operational employees. Visits were made to the company&#8217;s operational units, AmPm&#8217;s distribution centers and AmPm and JetOil stores. The results led to the development of a safety evolution plan, a set of actions to further consolidate the safety culture in all the company&#8217;s areas. Another noteworthy point in 2021 was the creation of Reporta A&#237;, a tool to report only safety-related deviations, whether they concern physical conditions, procedures, or behavior.</font></p>
<p style="margin: 6pt 0pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="color: #0070c0; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Governance and integrity</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Ultra Group</font> is recognized for its integrity and for adhering to the best practices of governance. As one of its material topics, the Company is continuously seeking to evolve its practices and positively influence its peers, business partners and other stakeholders.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the current composition of the Board of Directors, the highest governance body, 60% of the members are independent and 20% of them are women. At the end of 2021, the Company was granted the Women on Board (WOB) certification from an independent initiative supported by UN Women to companies that had at least two women on the Board of Directors.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, a leadership succession plan was announced for Ultrapar&#8217;s Board of Directors, that will be effective as of April 2023. As part of this process, Marcos Lutz will be the CEO of Ultra Group from January 2022 until April 2023, when he will return to the Board. Frederico Curado, Ultra Group&#8217;s CEO until the end of 2021, assumed as Vice-Chairman of the Board of Directors in January 2022, a position previously held by Lucio de Castro Andrade Filho, which retired after 45 years working for the Company.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Besides that, Leonardo Linden, formerly Ipiranga&#8217;s Commercial Vice-President, was appointed as CEO of the company in September 2021. Marcelo Ara&#250;jo, who held the CEO position of Ipiranga at that time, assumed as Chief Corporate Development and Advocacy Officer of Ultrapar, a position that was created to oversee the Sustainability, Institutional Relations, Legal and Risks areas.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">During the year the Board of Directors updated the Code of Ethics, the Anticorruption and Relationships with Public Officials Corporate Policy, the Related Party Transactions and Conflict of Interests Corporate Policy, the Material Notice Disclosure Policy and the Securities Trading Policy.</font></p>
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<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Concerning the Compliance and Ethics Program, an action plan was developed to improve points identified in the previous compliance culture diagnosis carried out in 2020 and that set the Ultra Group as having an Initial Proactive profile according to the most advanced profile of the Hearts &amp; Minds matrix. Among notable actions was that of increasing the team&#8217;s understanding of how the ethical guidelines apply to daily work and to capacitate the team in building and engaging with critical suppliers. These suppliers are now also joining Ipiranga and Ultragaz&#8217;s resellers, which always participated in the Group&#8217;s ethics and compliance capacity training. In 2021, the resellers were instructed about the new updated Related Party Transactions and Conflict of Interests Corporate Policy. The employees of the Holding and of the businesses were also instructed about this new document. </font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Compliance and Ethics Program exists since 2015 and is managed by the Risks, Compliance and Audit department with the support of the compliance management from the businesses. Related to ethics, the department directly reports to the Conduct Committee, which advises the Board of Directors and is presided by an independent member. All the Compliance and Ethics Program&#8217;s initiatives are overseen by the Conduct Committee. Concerning risks and audit topics, the department directly reports to the Risks and Audit Committee, also related to the Board of Directors. The department also answers to the Group&#8217;s Fiscal Council.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Concerning information security and data privacy for employees, clients, consumers, suppliers, business partners and other groups, Ultra Group follows the guidelines of the Personal Data Protection and Privacy Corporate Policy approved in 2020 and the Information Security Policy updated in 2021. Throughout 2021, the Holding and the businesses made efforts to ensure compliance with the General Data Protection Law (LGPD). The Privacy Program and the Personal Data Protection Committee, answering to the Executive Board of Ultra Group, were structured; the businesses&#8217; Privacy Offices were implemented; and the Data Protection Officers (DPOs), in charge of data governance, were appointed. Internal processes were also updated, and the employees received sensitivity training as well as took part in sensitivity campaigns.</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The whole existing structure helped minimize the impacts of the cyberattack that occurred in January 2021. As soon as the attack was noticed, the Group suspended its information technology systems, which were restarted a few days after the incident with additional security layers. Later, other measures were adopted to improve even more the security level in the Company&#8217;s information technology environment.</font><font style="font-size: 9pt;"> </font></font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;">R</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">isk</font><font style="color: #051272; font-size: 12pt; font-weight: bold;"> </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">Management</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">, Compliance and Audit</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">ing</font></font></p>
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<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Ultra Group has an organized governance structure for the risks, compliance and auditing themes, covering all its businesses.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Risks, Compliance and Audit department have different reporting levels in the organization according to each of its competencies. The department is linked administratively to the Ultra Group&#8217;s Chief Corporate Development and Advocacy Officer, being responsible for the integrated management of risks, maintenance of the Ethics and Compliance Program and for the internal audit. The department reports to the Audit and Risks Committee of the Board of Directors in the management of the corporate risks, in the consolidation of information and controls and in the conducting of the general internal audit process.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;">The Statutory Audit and Risks Committee, constituted in 2019, was set up to advise the Board of Directors on the supervision of: (i) the integrity and quality of the Company&#8217;s financial statements, (ii) the compliance of the Company with legal and regulatory requirements, (iii) the qualification and independence of the independent auditor, (iv) the performance of the Company&#8217;s internal auditing functions (represented by the Risks, Compliance and Audit department) and of the independent auditors, and (v) the risk management. The composition of the Statutory Audit and Risks Committee is of three members who are also independent members of the Company.</font><font style="font-size: 9pt;"> </font></font></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Since 2004, Ultra Group has established a Conduct Committee with the purpose of promoting respect, compliance and improvement of ethical principles as well as monitoring the compliance to the Company&#8217;s Code of Ethics. Among its various duties, the highlights are: (i) managing the enforcement of the Code of Ethics, its guidelines and related policies; (ii) overseeing the enforcement and effectiveness of the principles provided by the Code of Ethics; (iii) reviewing and approving the Compliance and Ethics Program and overseeing its enforcement to ensure it is being complied with; (iv) recommending proper disciplinary, administrative or legal measures for the topics the Committee deals with and that shall be adopted by the Ultra Group&#8217;s bodies as well as resolve on whether it is necessary to discuss the issue with the Risks and Audit Committee or the Board of Directors of the Company to enforce any additional measures required. The Conduct Committee has an external and independent president, and its vice-president comes from the Board of Directors.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Integrated Risk Management</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultra Group&#8217;s risk management structure combines the corporate coordination to a direct interface with each one of the businesses, ensuring that this process is comprehensive and takes into consideration specific sectorial characteristics.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Systemic Risks Assessment comprises themes which cover the leading threats to the operations of the businesses and are grouped into five families with an interdependent look and dynamic evaluations. In 2021, Ultra Group reviewed and approved the Risk Management Corporate Policy in the Board of Directors, reinforcing its corporate governance.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The discussions take place on a structured and independent basis at each business and in the Holding, covering risks themes both internal and external, evaluating scenarios quantified in terms of impact and vulnerability, and generating mitigating action plans. </font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Internal and External </font><font style="font-weight: bold;">Audits</font><font style="font-weight: bold;"> </font></font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Linked to the Risks, Compliance and Audit department, the Internal Audit unit is responsible for monitoring the procedures and controls of all businesses, identifying opportunities for improvement on the risks management that contribute to the updating of the risks map and the Ethics and Compliance Program. The unit also executes internal operational and financial audits, according to the plan approved annually by the Risks and Audit Committee and performs effectiveness tests of internal controls as part of the process of Sarbanes-Oxley (SOX) certification, a requirement for the financial statements published in the United States market.<font style="background-color: #ffff00;"> </font></font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The External Audit is responsible for auditing the financial statements of the Company, which consider the understanding of the internal controls that are relevant to the preparing process of the financial statements and carrying out the necessary procedures to issue the independent auditors' report on the individual and consolidated financial statements.</font></p>
<p style="margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Compliance</font></p>
<p style="margin: 6pt 0pt; page-break-inside: avoid; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultra Group holds a Compliance and Ethics Program guided by the Code of Ethics, with guidelines approved by the Board of Directors and it is overseen by the Conduct Committee. The program provides annual topics for communication and training, such as combatting of corruption, good anti-trust practices, conflicts of interest, measures against harassment and discrimination, among others, always with the purpose of improving the Company&#8217;s integrity culture. In 2021, the program&#8217;s consolidated results were published to be accessed by all Ultra Group&#8217;s employees, and the Code of Ethics and the Anticorruption Corporate Policy were reviewed to reinforce the Company&#8217;s commitment to maintaining the credibility and good reputation of all its businesses.</font></p>
<p style="margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-size: 10pt;"><font style="font-family: 'times new roman', times;">The Ethics and Compliance Program also determines that a whistleblowing channel should be made available to all stakeholders to receive complaints, anonymity and non-retaliation being guaranteed to complainants. Managed by an independent outside company, Ultra&#8217;s Open Channel can be used by employees and outside stakeholders, receiving in Brazil and from abroad requests for orientation on guidelines relating to ethics and integrity and notifications on eventual deviations from the Code of Ethics and corporate policies. The reports are sent to the Risks, Compliance, and Audit department, responsible for handling complaints with the support of the Conduct Committee. In 2021, the channel received 790 reports, which shows that the ethical and integrity awareness actions has maintained the trust of the channel.</font>&nbsp;</font></p>
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<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar&#8217;s combined average daily financial volume on B3 and NYSE totaled R$ 159 million/day in 2021 (-12%). Ultrapar&#8217;s shares ended 2021 quoted at R$ 14.54 on B3, a depreciation of 39% in the year, while the Ibovespa stock index fell by 12%. In NYSE, Ultrapar&#8217;s shares decreased 42% in the year, while the Dow Jones stock index appreciated 19%. Ultrapar ended 2021 with a market cap of R$ 16 billion.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In February and August 2021, Ultrapar&#8217;s Board of Directors approved the issuance of 70,939 and 31,032 common shares, respectively, with the same rights attributed to the remaining shares of the Company already issued, due to the partial exercise of the subscription warrants issued by Ultrapar to the former Extrafarma shareholders. As a consequence of these issuances, Ultrapar&#8217;s capital stock is represented by 1,115,107,683 common shares, all of them nominative and with no par value.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><font style="font-family: 'times new roman', times;"><font style="font-size: 9pt; font-weight: bold;">Performance of</font><font style="font-size: 9pt; font-weight: bold;"> UGPA3 x </font><font style="font-size: 9pt; font-weight: bold;">Ibovespa</font><font style="font-size: 9pt; font-weight: bold;"> &#8211; 20</font><font style="font-size: 9pt; font-weight: bold;">2</font><font style="font-size: 9pt; font-weight: bold;">1</font><font style="font-size: 9pt; font-weight: bold;"> </font><font style="font-size: 8pt; font-weight: bold;">(</font><font style="font-size: 8pt; font-weight: bold;">Dec 30, 2020 =</font><font style="font-size: 8pt; font-weight: bold;"> 100)</font></font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;">Dividends</font><font style="font-size: 12pt; font-weight: bold;"> </font></font></p>
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<td height="8" style="height: 6px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; width: 30.6011%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 6px; width: 37.1585%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; background: white; height: 6px; width: 31.9672%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="97" style="height: 15px; width: 30.6011%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid #44546a; white-space: normal; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></td>
<td width="119" style="border-left: none; width: 37.1585%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">404</font></td>
<td width="101" style="border-left: none; width: 31.9672%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #44546a; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.37</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="97" style="height: 15px; border-top: none; width: 30.6011%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2020</font></td>
<td width="119" style="border-top: none; border-left: none; width: 37.1585%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">480</font></td>
<td width="101" style="border-top: none; border-left: none; width: 31.9672%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.44</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="97" style="height: 15px; border-top: none; width: 30.6011%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2019</font></td>
<td width="119" style="border-top: none; border-left: none; width: 37.1585%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">479</font></td>
<td width="101" style="border-top: none; border-left: none; width: 31.9672%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.44</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="97" style="height: 15px; border-top: none; width: 30.6011%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2018</font></td>
<td width="119" style="border-top: none; border-left: none; width: 37.1585%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">685</font></td>
<td width="101" style="border-top: none; border-left: none; width: 31.9672%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.63</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="97" style="height: 15px; border-top: none; width: 30.6011%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-left: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2017</font></td>
<td width="119" style="border-top: none; border-left: none; width: 37.1585%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">951</font></td>
<td width="101" style="border-top: none; border-left: none; width: 31.9672%; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #44546a; border-bottom: 1pt solid #44546a; border-image: initial; white-space: normal; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">0.88</font></td>
</tr>

</table>
<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times;"><font style="font-size: 9pt; font-weight: bold;"><br></font></font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, Ultrapar declared dividends of R$ 404 million, a payout of 46% on the net income for the year, equivalent to 50% of the net income attributed to shareholders of Ultrapar after 5% of legal reserve, and a dividend yield of 2.1% on the average price of Ultrapar&#8217;s shares. </font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 9pt;">&nbsp;</font></p>
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<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>162</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 123px;">

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<td style="width: 50%; height: 106px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0cm 0cm 0.0001pt; font-size: 10pt; font-family: 'Century Gothic', 'sans-serif'; color: #000000;"><font lang="PT-BR" style="font-size: 14.0pt; mso-bidi-font-size: 9.5pt; font-family: 'Open Sans','sans-serif'; color: #051272; mso-themecolor: accent1;">2021 MANAGEMENT REPORT </font><font lang="PT-BR"></font></p>
</td>
<td style="width: 50%; height: 106px; vertical-align: bottom;" valign="bottom">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" alt="Image1"></font></p>
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</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 9pt;">&nbsp;</font></p>
</div>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">ANALYSIS OF FINANCIAL PERFORMANCE IN 2021</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 7.1pt;">
<td style="border-bottom-color: #051272; border-bottom-style: solid; border-bottom-width: 2.25pt; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 518.75pt;">
<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;">Economic</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">-</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">operati</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">o</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">n</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">al</font><font style="color: #051272; font-size: 12pt; font-weight: bold;"> </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">environment</font></font></p>
</td>
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</table>
<p style="margin: 0px; text-align: center; text-indent: 0px;"><br></p>
<table border="0" cellpadding="0" cellspacing="0" width="50%" style="height: 149px; border-collapse: collapse; width: 50%; font-family: 'times new roman'; font-size: 10pt; margin-left: auto; margin-right: auto;">

<tr style="height: 24px;">
<td colspan="4" height="33" width="454" style="height: 24px; width: 341pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10.5pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: center; background: #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Macroeconomic indicators</font></td>
</tr>
<tr style="height: 6px;">
<td height="8" style="height: 6px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center;"></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 6px;"></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 6px;"></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 6px;"></td>
</tr>
<tr style="height: 27px;">
<td height="36" width="212" style="height: 27px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #002060; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid windowtext; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid windowtext; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 27px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid windowtext; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 27px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2020</font></td>
<td width="82" style="width: 62pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 9pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid #002060; border-bottom: 1pt solid windowtext; border-left: none; border-image: initial; white-space: normal; text-align: center; height: 27px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#916; (%) </font><br><font style="font-family: 'times new roman', times; font-size: 10pt;">2021 v 2020</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="212" style="height: 15px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: none; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">GDP*</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.5%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-3.9%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">8.4pp</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="212" style="height: 15px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: none; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inflation in the period</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">10.1%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.5%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5.5pp</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="212" style="height: 15px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: none; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accumulated Selic rate</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4.4%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2.8%</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1.7pp</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="212" style="height: 15px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: none; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Average exchange rate (R$/US$)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5.40</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5.16</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5%</font></td>
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<td height="22" width="212" style="height: 16px; width: 159pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060; border-image: initial; white-space: normal; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brent crude oil (US$/barrel)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: 1pt solid #002060; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">70</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: none; border-bottom: 1pt solid #002060; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">42</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; border-image: initial; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">67%</font></td>
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<td height="22" colspan="2" style="height: 16px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 8pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 8pt;">* Focus projection from 02/18/22 for 2021</font></td>
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<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #000000; font-size: 11pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: nowrap; text-align: center; height: 16px;"></td>
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<p style="margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'times new roman', times;"><br></font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The beginning of 2021 was marked by optimism with COVID-19 vaccination spreading around the world and with good expectations in regards to the vaccination campaign in Brazil. However, with the worsening of the pandemic in the first months of the year and growing concerns about the fiscal and inflationary situation in Brazil, the macroeconomic environment deteriorated, leading the country to implement a contractionary monetary policy, with consecutive increases in the basic interest rate.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The uncertainties in the economic scenario resulting from the pandemic and the increase in interest rates led to the depreciation of the BOVESPA stock index of 12% in 2021, while the Dow Jones stock index appreciated 19% in the same period. The average US Dollar rate was R$ 5.40/US$, a depreciation of 5% compared to the average US Dollar rate of R$ 5.16/US$ in 2020.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The proximity of the upcoming presidential elections and the uncertainties and instabilities both in the country and abroad influence the economic scenario projected for 2022. Current market projections estimate economic stagnation in 2022, with inflation above target at 5.6% and interest rates at higher levels of 12.3%, according to the Focus projection of February 18, 2022.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021 fuels distribution market (Otto cycle and diesel) presented a 5% growth in the sales volume compared to 2020. The Otto cycle volume was favored by less social distance measures and restrictions on personal mobility in comparison to 2020, despite consecutive rises in oil prices in 2021, while diesel volumes also followed the economy gradually recover. </font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the LPG market, the ANP sales of the bottled segment decreased 3% compared to 2020, mainly due to higher demand for bottled LPG in 2020, because of greater social distancing. On the other hand, the bulk segment increased 7%, due to higher sales to industries, commercial and services segments, which were more impacted by the pandemic in 2020.&nbsp; </font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, the reference prices for ethylene and MEG, which are the main chemical commodities that influence Oxiteno&#8217;s performance, registered an increase of 43% and 39%, respectively, and the palm kernel oil prices increased 74%, due to tighter supplies of the product. Oxiteno&#8217;s results were also benefited from the depreciation of Real in comparison to US Dollar as the products follow the international pricing references.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The liquid bulk storage sector has been growing in Brazil but was impacted by weaker import volumes of oil derivatives and ethanol, partially offset by significant increases of import volumes of chemicals and corrosive products.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In pharmaceutical retailing, gross revenue of the network associated with Abrafarma (Brazilian Drugstore and Pharmacy Networks Association) was R$ 68 billion in 2021 compared to R$ 58 billion in 2020 (+16%), with a net addition of 557 drugstores in Brazil. </font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 10pt;"> </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">Considerations on the financial and operational information</font></font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultra Group is in the process of completing the review of its businesses portfolio, seeking greater complementarity and synergies in its operations within the energy and infrastructure sectors in Brazil, through Ipiranga, Ultragaz and Ultracargo, in which it has a solid operational scale and structural competitive advantages, allowing for greater efficiency and value generation potential. The focus of the management and the reduction of leverage are additional benefits of the process. </font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In this context, Ultrapar announced the signing of the sale agreements of Extrafarma and Oxiteno, according to the Material Notices disclosed on May 18, 2021 and August 16, 2021, respectively, with the prospect of closing the transactions throughout 2022. Thus, despite not having fulfilled all the conditions precedent for its completion, on December 31, 2021, Ultrapar classified these businesses as assets and liabilities held for sale and discontinued operations. <font style="font-weight: bold;">To allow</font><font style="font-weight: bold;"> the</font><font style="font-weight: bold;"> comparability with previous periods, in this report, the financial information related to </font><font style="font-weight: bold;">Ultrapar</font><font style="font-weight: bold;"> corresponds to the consolidated information (pro forma) of the Company, that is, the data considers the sum of continued and discontinued operations unless otherwise indicated</font>.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The financial information presented in this document was prepared in accordance with the IFRS (International Financial Reporting Standards). The information on Ultragaz, Ultracargo, Oxiteno, Ipiranga and Extrafarma are presented without the elimination of intersegment transactions. Therefore, the sum of such information may not correspond to Ultrapar&#8217;s consolidated information. Additionally, the financial and operational information presented in this discussion is subject to rounding and, consequently, the total amounts presented in the tables and charts may differ from the direct numerical sum of the amounts that precede them. </font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The financial information presented in this document includes the adoption of the IFRS 16 norm and the segregation of certain expenses pertaining to the Holding. Information denominated EBITDA &#8211; Earnings Before Interests, Taxes on Income and Social Contribution on Net Income, Depreciation and Amortization; Adjusted EBITDA &#8211; adjusted by the amortization of contractual assets with customers &#8211; exclusive rights and by the cash flow hedge from bonds; and EBIT &#8211; Earnings Before Interest and Taxes on Income and Social Contribution on Net Income are presented in accordance to Instruction No. 527, issued by the Brazilian Securities and Exchange Commission &#8211; CVM on October 04, 2012.</font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The volume sold by Ultragaz fell by 1% in 2021, mainly because of the 4% decrease of sales in the bottled segment due to lower demand growth for LPG bottles, reflecting stronger social isolation in 2020. In the bulk segment, volumes increased 5%, with higher sales to industries, commercial and services segments, which were more affected by the pandemic in 2020.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenues rose 32% in 2021, because of LPG costs increases. The cost of goods sold, in turn, increased 37%, due to the increases of LPG and fuels costs in addition to the effects of inflation on production materials.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales, general and administrative expenses increased 7% in the year, due to higher expenses with personnel, freight, and commercial rebates, partially offset by lower expenses with consultancies and initiatives to reduce expenses in several lines.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultragaz&#8217;s EBITDA amounted to R$ 729 million in 2021, a similar level compared to the previous year, mainly due to initiatives for reducing expenses, despite strong inflation throughout the year and lower sales volume.</font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;"> </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">Ultracargo</font></font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultracargo&#8217;s average installed capacity increased 5% in 2021, due to the expanded tankage capacity at Itaqui and Vila do Conde terminals in the last twelve months. The cubic meter sold increased 2%, because of greater fuel handling in Itaqui, due to the expansions of tankage capacity, partially offset by lower fuel handling in Santos, resulting from lower imports.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenues rose 11% in 2021, due to contractual readjustments, greater handling and better mix of products and terminals. The cost of services provided rose 6%, mainly due to the higher depreciation, resulting from expanded tankage capacity, and leasing readjustments.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales, general and administrative expenses increased 5% in the year, due to higher personnel expenses (mainly variable compensation, in line with the progression of results) and information technology and engineering to support expansion projects, productivity gains and digital transformation.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultracargo registered a record EBITDA level of R$ 396 million in 2021 (+17%). Excluding the effect of the extraordinary PIS/Cofins tax credits of R$ 12 million in 2020, recurring EBITDA growth in the annual comparison was 22%, as a result of expansions in capacity with profitability gains, contractual readjustments and productivity gains.</font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oxiteno&#8217;s sales volume increased 3% in 2021, with a growth of 8% in specialty chemicals, driven by higher sales mainly to crop solutions and coatings segments, in addition to higher sales in the United States (plant ramp-up). The volume of commodities decreased 17% compared to 2020, due to the prioritization of specialties in the product mix and lower market demand.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenues at Oxiteno increased 36%, because of higher sales volumes and the increase of 25% in average prices in US Dollars, reflecting higher raw material costs and mix product with lower share of commodities.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of goods sold rose 32% in 2021, due to the increase in sales volume and in raw material costs, in addition to the increase in personnel costs (mainly variable compensation, in line with the progression of results) and in maintenance, partially offset by the effect of the Zero Cost Collar in 2020 (margin hedge, discontinued as from 2021).</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales, general and administrative expenses recorded an increase of 18% in 2021, as a result of higher freight and storage expenses, due to higher sales volumes and higher unit costs, in addition to the increase in personnel expenses (variable compensation) and the effect of exchange variation on expenses at the international units.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The other operations results line recorded a negative variation of R$ 131 million, due to the constitution of extraordinary tax credits related to the exclusion of ICMS from the PIS/Cofins tax base in the amount of R$ 156 million in 2020, partially offset by the receipt of insurance reimbursement for business interruption losses from an incident at Oleoqu&#237;mica, in Cama&#231;ari, in 2017.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oxiteno registered a record EBITDA of R$ 1,104 million in 2021 (+41%). Excluding the effect of R$ 156 million in extraordinary PIS/Cofins tax credits mentioned above in 2020, the recurring EBITDA growth in the annual comparison was 75%, explained by higher sales volume and improvement in margins, in addition to the effect of the Zero Cost Collar in 2020 (margin hedge, discontinued as from 2021), attenuated by higher costs and expenses.</font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales volume at Ipiranga increased 5% in 2021, due to the greater effects of the pandemic on fuel consumption in Brazil in 2020, with a growth of 3% in Otto cycle and 6% in diesel.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenues at Ipiranga increased 50%, because of the increase in the average costs of products derived from oil and ethanol, in addition to higher sales volume. The cost of goods sold increased by 51%, for the same reasons that affected the net revenues.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales, general and administrative expenses rose 31%, mainly due to higher provisions for contingencies, higher expenses on AmPm&#8217;s company-operated stores, Iconic (higher sales volume and commercial rebates) and freight (higher sales volume and increase in unit cost), in addition to the expense saving in several fronts in 2020.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The other operating results line recorded a positive variation of R$ 32 million in 2021, because of higher constitution of extraordinary PIS/Cofins tax credits and higher merchandising revenues from suppliers, partially offset by higher costs relative to Renovabio&#8217;s targets.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The disposal of property line recorded a positive result of R$ 184 million in 2021, an increase of R$ 104 million compared to 2022, because of the capital gain recorded by ConectCar&#8217;s sale in the amount of R$ 76 million and higher sales of real estate assets, aligned with a more active management process for disposing of Ipiranga&#8217;s points of sale.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ipiranga&#8217;s EBITDA amounted to R$ 2,087 million in 2021 (+22%). Excluding the effect of the capital gain from ConectCar&#8217;s sale, the growth of recurring EBITDA was 17%, due to higher sales volume, improvement on margins, higher results in the other operating results line and higher results from the disposal of property, attenuated by higher expenses.&nbsp;</font></p>
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<p style="margin: 0cm 0cm 0.0001pt; font-size: 10pt; font-family: 'Century Gothic', 'sans-serif'; color: #000000;"><font lang="PT-BR" style="font-size: 14.0pt; mso-bidi-font-size: 9.5pt; font-family: 'Open Sans','sans-serif'; color: #051272; mso-themecolor: accent1;">2021 MANAGEMENT REPORT </font><font lang="PT-BR"></font></p>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" alt="Image1"></font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Extrafarma</font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Extrafarma closed 6 drugstores in 2021 and ended the year with 399 pharmacies, a reduction of 1% in its network. At the end of the year, maturing stores (with up to three years of operation) represented 12% of the network, as a result of greater selectivity in expansion and a more rigorous approach to underperforming stores.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross revenues at Extrafarma remained stable, due to the higher result of promotional initiatives, higher same store sales excluding mobile phone sales (SSS), and annual readjustment in the price of medicines. These effects were offset by the lower number of stores, the effects from the cyberattack occurred in January 2021 and the strong comparison basis in mobile phone sales in 2020.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of goods sold decreased 1% in 2021 and gross profit reached R$ 603 million (+2%), equivalent to a gross margin of 29%, 0.8 p.p. higher than 2020.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales, general and administrative expenses increased 4%, because of the inflationary impacts on personnel and the contingency of expenses carried out in 2020, partially offset by productivity gains and logistics improvement.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, impairments of assets were recorded in the amount of R$ 428 million, with no cash effect, because of the sale agreement of Extrafarma to Pague Menos.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Extrafarma reported a negative EBITDA of R$ 353 million in 2021. Excluding the impairment effect, recurring EBITDA was R$ 74 million, a 12% reduction in the annual comparison, mainly because of inflation on expenses.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>166</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" alt="Image1"></font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt;"><font style="color: #051272; font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">Ultrapar&nbsp;</font></p>
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<p style="margin: 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="80%" style="height: 410px; font-size: 10pt; border-collapse: collapse; width: 80%; font-family: 'times new roman'; margin-left: auto; margin-right: auto;">

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<td colspan="4" height="33" width="828" style="height: 24px; width: 620pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; text-align: center; background: #002060; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income statement</font></td>
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<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 6px; border: initial none initial;"></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 6px; border: initial none initial;"></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 6px; border: initial none initial;"></td>
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<td height="40" width="519" style="height: 30px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-width: 1pt; border-style: solid; border-color: #002060 black #002060 #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">R$ million&nbsp;</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 12pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; height: 30px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2021</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 12pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; height: 30px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2020</font></td>
<td width="103" style="width: 77pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #404040; font-size: 12pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; text-align: center; height: 30px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#916; (%) </font><br><font style="font-family: 'times new roman', times; font-size: 10pt;">2021 v 2020</font></td>
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<td height="22" width="519" style="height: 16px; border-top: none; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenues</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,18,799</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">81,241</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">46%</font></td>
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<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Cost of goods sold and services provided</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(111,729)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(75,628)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">48%</font></td>
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<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-width: 1pt; border-style: solid; border-color: #002060 black #002060 #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Gross profit</font></td>
<td style="border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7,069</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">5,613</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">26%</font></td>
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<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Selling, marketing, general and administrative expenses</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,062)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,098)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">24%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Other operating results</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">123</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">221</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-44%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Gain on disposal of property, plant and equipment and intangibles</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">183</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">141%</font></td>
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<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Impairment</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(428)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">n/a</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-width: 1pt; border-style: solid; border-color: #002060 black #002060 #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Operating income</font></td>
<td style="border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,886</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,812</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4%</font></td>
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<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Financial result</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(910)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(269)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">238%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Share of profit of subsidiaries, joint ventures and associates</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(18)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(44)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-60%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-width: 1pt; border-style: solid; border-color: #002060 black #002060 #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Income before income and social contribution taxes</font></td>
<td style="border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">959</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,499</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-36%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; border-top: none; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid black; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(-) Income and social contribution taxes</font></td>
<td style="border-top: none; border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(75)</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(571)</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid #002060; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-87%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; border-top: none; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid black; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Net income</font></td>
<td style="border-top: none; border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">884</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">928</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid windowtext; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-5%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(+) Income and social contribution taxes</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">75</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">571</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-87%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(+) Financial result</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">910</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">269</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">238%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(+) Depreciation and amortization</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,377</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">1,267</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">9%</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="519" style="height: 15px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-width: 1pt; border-style: solid; border-color: #002060 black #002060 #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) CVM EBITDA</font></td>
<td style="border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,246</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,036</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid windowtext; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">7%</font></td>
</tr>
<tr style="height: 16px;">
<td height="22" width="519" style="height: 16px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: none; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(+) Cash flow hedge from bonds</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">176</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 16px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">154</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 16px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">15%</font></td>
</tr>
<tr style="height: 33px;">
<td height="44" width="519" style="height: 33px; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid black; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(+) Amortization of contractual assets with customers &#8211; exclusive rights (Ipiranga and Ultragaz)</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 33px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">283</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; white-space: nowrap; text-align: center; height: 33px; border: initial none initial;"><font style="font-family: 'times new roman', times; font-size: 10pt;">289</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid #002060; border-bottom: none; border-left: none; white-space: nowrap; text-align: center; height: 33px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-2%</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="519" style="height: 15px; border-top: none; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid black; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Adjusted EBITDA</font></td>
<td style="border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,704</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,479</font></td>
<td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid #002060; border-right: 1pt solid windowtext; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">6%</font></td>
</tr>
<tr style="height: 15px;">
<td height="20" width="519" style="height: 15px; border-top: none; width: 389pt; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid black; border-bottom: 1pt solid #002060; border-left: 1pt solid #002060; background: #f2f2f2;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(=) Recurring Adjusted EBITDA*</font></td>
<td style="border-top: none; border-left: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">4,055</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: none; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">3,311</font></td>
<td style="border-top: none; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #595959; font-size: 11pt; font-weight: bold; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-right: 1pt solid windowtext; border-bottom: 1pt solid #002060; border-left: none; white-space: nowrap; text-align: center; background: #f2f2f2; height: 15px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">22%</font></td>
</tr>

</table>
<table style="width: 80%; font-family: 'times new roman'; font-size: 10pt; margin-left: auto; margin-right: auto;">

<tr>
<td style="width: 100%;"><font style="font-size: 8pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">*&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">E</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">xcludes non-recurring effects:</font></font></td>
</tr>
<tr>
<td style="width: 100%;">
<ul type="disc" style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; margin: 6pt 0pt 0pt 8.68pt; padding-left: 9.32pt; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt;">2020:&nbsp;extraordinary&nbsp;PIS/Cofins&nbsp;tax&nbsp;credits of R$ 156 million at&nbsp;Oxiteno&nbsp;and R$ 12 million at&nbsp;Ultracargo</font></li>
</ul>
</td>
</tr>
<tr>
<td style="width: 100%;">
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<li style="font-family: Symbol; font-size: 8pt; margin: 6pt 0pt 0pt 8.68pt; padding-left: 9.32pt; break-inside: avoid; text-align: justify; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 8pt;">2021: impairment of R$&nbsp;428 million at&nbsp;Extrafarma&nbsp;and capital gain from&nbsp;ConectCar&#8217;s&nbsp;sale of R$&nbsp;76 million&nbsp;at&nbsp;Ipiranga</font></li>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times;"><font style="font-size: 9pt;"><br></font></font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar recorded net revenues of R$ 119 billion in 2021, an increase of 46% compared to 2020, due to higher revenues of all businesses, except Extrafarma, with highlight to Ipiranga. The cost of goods sold and services provided at Ultrapar was R$ 112 billion in 2021, an increase of 48% compared to 2020, also due to higher costs in all businesses, except Extrafarma.</font></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px; font-size: 5pt;"><font style="font-family: 'times new roman', times; font-size: 5pt;"><br></font></p>
<p style="margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar recorded a gross profit of R$ 7.1 billion in 2021, an increase of 26% in the annual comparison, due to the increase in aggregate profit in all businesses, especially Ipiranga, which was the business most affected by the pandemic in 2020.</font></p>
<p style="margin: 0pt 0pt 5pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar&#8217;s selling, marketing, general and administrative expenses increased 24%, due to inflationary effects and to the contingency of expenses on several fronts throughout 2020, in addition to other specific effects across all businesses in 2021.</font></p>
<p style="margin: 6pt 0pt 5pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The other operating results line decreased 44% compared to 2020, mainly due to the lower constitution of extraordinary tax credits at Oxiteno and the greater appropriation of costs relative to Renovabio&#8217;s targets at Ipiranga, partially offset by (i) higher constitution of extraordinary tax credits and higher merchandising revenues from suppliers at Ipiranga and (ii) receipt of insurance reimbursement for business interruption losses from an incident at Oleoqu&#237;mica (occurred in 2017) at Oxiteno in 2021.</font></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The disposal of property line increased 141% compared to 2020, due to the higher results from sales of real estate assets and the capital gain from ConectCar&#8217;s sale, both at Ipiranga.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, an effect of R$ 428 million was recorded in the line of impairment, because of the impairment of Extrafarma&#8217;s assets arising from the sale agreement of Extrafarma to Pague Menos.</font></p>
<p style="margin: 6pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar&#8217;s recurring Adjusted EBITDA reached R$ 4.1 billion in 2021, an increase of 22% compared to 2020, mainly due to the increase in the EBITDAs at Oxiteno, Ipiranga and Ultracargo, partially offset by higher Holding expenses and lower EBITDA at Extrafarma. Ultragaz&#8217;s EBITDA remained stable.</font></p>
<p style="margin: 6pt 0pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The total costs and expenses with depreciation and amortization&#185; in 2021 amounted to R$ 1.7 billion, an increase of 7% compared to 2020, due to the investments over the period.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#185; <font style="font-size: 8pt;">Includes amortization of assets of contracts with clients &#8211; exclusive rights</font></font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar posted an operating income of R$ 1.9 billion in 2021, a result 4% higher than 2020.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar&#8217;s financial result reported a net financial expense&#178; of R$ 910 million in 2021, compared to a net financial expense of R$ 269 million in 2020, mainly due to the negative temporary effect of mark-to-market of hedges and higher debt cost, because of higher interest rates.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#178; <font style="font-size: 8pt;">Does not include the result of the cash flow hedge from bonds</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar&#8217;s net income reached R$ 884 million in 2021, a reduction of 5% compared to 2020, due to higher net financial expenses and higher depreciation, attenuated by higher EBITDA in the period and lower taxes.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #1f497d; font-weight: bold;">Results from the </font><font style="color: #1f497d; font-weight: bold;">Holding,</font><font style="color: #1f497d; font-weight: bold;"> </font><font style="color: #1f497d; font-weight: bold;">affiliates and</font><font style="color: #1f497d; font-weight: bold;"> </font><font style="color: #1f497d; font-weight: bold;">abastece</font><font style="color: #1f497d; font-weight: bold;"> </font><font style="color: #1f497d; font-weight: bold;">a&#237;</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In addition to the results of the five main businesses, Ultrapar recorded a negative result of R$ 258 million in 2021, composed of (i) R$ 162 million of negative EBITDA with the Holding, as a result of higher expenses with M&amp;A projects and personnel, (ii) R$ 80 million of negative EBITDA with abastece a&#237;, due to expenses with personnel, technology and marketing development and expansion of the app and the loyalty program and (iii) R$ 16 million of negative EBITDA with affiliates, mainly due to ConectCar, which no longer compose Ultrapar&#8217;s results as from 4Q21.</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="color: #1f497d; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Indebtedness</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultrapar ended 2021 with a net financial debt of R$ 9.9 billion, composed of gross indebtedness of R$ 16.6 billion and cash position of R$ 6.7 billion. Considering the leasing payable (IFRS 16) of R$ 1.8 billion, the total net debt was R$ 11.7 billion (2.9x LTM Adjusted EBITDA&#179;) compared to R$ 10.5 billion on December 31, 2020 (3.0x LTM Adjusted EBITDA).</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#179; <font style="font-size: 8pt;">Does not include the impairment of R$ 428 million at Extrafarma and capital gain from ConectCar&#8217;s sale of R$ 76 million</font></font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Organic investments by business &#8211; R$ million</font></p>
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<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, Ultrapar&#8217;s investments, net of divestments and receivables, totaled R$ 1.9 billion, a 27% higher than the amount invested in 2020, mainly due to lower investments in 2020 as a cash contingency measure, due to the uncertainties imposed by the pandemic and lower markets growth.&nbsp;</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultragaz invested R$ 354 million in 2021, mainly allocated to equipment installed in new customers in the bulk segment, to the new plants in Bel&#233;m (state of Par&#225;) and Fortaleza (state of Cear&#225;), to the acquisition and replacement of bottles, in addition to security and information technology projects.</font></p>
<p style="margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ultracargo recorded investments of R$ 358 million in 2021, mainly for the construction of the new terminal in Vila do Conde (state of Par&#225;), for the expansion of the Itaqui terminal (Phase III) and projects for efficiency gains, maintenance and operational safety of the terminals.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Oxiteno invested R$ 287 million in 2021, mainly directed to the maintenance and safety of production units.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ipiranga invested R$ 807 million in 2021, allocated to the expansion and maintenance of Ipiranga&#8217;s service stations franchise network, besides logistics infrastructure. Out of the total investments, R$ 418 million refers to fixed and intangible assets and R$ 420 million to contractual assets with customers (exclusive rights). These amounts were reduced by the receipt of R$ 32 million installments from sale of real estate assets, net of financings offered to customers.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Extrafarma invested R$ 36 million in 2021, mainly for information technology projects and maintenance and improvements in stores.</font></p>
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<p style="line-height: 14pt; margin: 6pt 0pt; text-align: justify;"><font style="font-family: 'times new roman', times;"><font style="color: #051272; font-size: 12pt; font-weight: bold;">Relation</font><font style="color: #051272; font-size: 12pt; font-weight: bold;">s</font><font style="color: #051272; font-size: 12pt; font-weight: bold;"> with </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">the </font><font style="color: #051272; font-size: 12pt; font-weight: bold;">Independent Auditors</font></font></p>
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<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a policy for hiring the services to be rendered by independent auditors guaranteeing that there is no conflict of interests, loss of independence or objectivity in the auditing services of the financial statements to be provided by the independent auditors.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to CVM Instruction 381/03, we inform that during the fiscal year of 2021, we contracted from our independent auditors different works from that co-related to the auditing of the financial statements, representing 6% of the global remuneration in fees for the external audit services. Services rendered relate to the revision of the Tax Accounting Bookkeeping and Digital Accounting Bookkeeping audit for the emission of a comfort letter in connection with the offer of securities and reviewing of tax credits totaling R$ 551 thousand. The period for providing these services was less than one year.</font></p>
<p style="margin: 6pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our independent auditors declare to the Management of the Company that the services rendered did not affect the independence and objectivity necessary to perform the external audit services of the financial statements.</font></p>
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<div style="font-family: 'times new roman', times; font-size: 10pt; text-align: center;"><font style="font-weight: bold;">REPORT OF THE FISCAL COUNCIL</font><br></div>
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<div style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; text-align: justify;">The Fiscal Council of Ultrapar Participa&#231;&#245;es S.A., pursuant to legal and statutory provisions, analyzed the Management Report and the Financial Statements (parent company and consolidated) prepared in accordance with Brazilian accounting practices and International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) for the year ended December 31, 2021, duly approved by the Board of Directors of the Company on February 23, 2022.<br></div>
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<div style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; text-align: justify;">Based on the assessment made and considering the report with an unqualified opinion by the independent auditors, KPMG Independent Auditors, dated February 23, 2022, as well as the information and clarifications received during the year, the Fiscal Council attests that the mentioned documents, as well as the proposal for destination of net earnings for the period, including dividend distribution, are ready to be presented in the Annual General Shareholders&#8217; Meeting, to be realized at an opportune moment, within the legal timeframe.<br></div>
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<h1 style="margin: 1.95pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.1 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bmang_XUK2RF50AO00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Management discussion &amp; analysis</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">:</font></a></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Introduction</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The following comments should be read in the light of our consolidated financial statements, filed with the CVM on February </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, including the note thereto and other information included elsewhere in this document.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">It is important to highlight Ultra Group is </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">concluding the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> review of its business portfolio. In this regard, Ultrapar announced it will sell</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> its stake in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> both Extrafarma and Oxiteno, as informed in the Material Facts respectively disclosed on May 18, 2021 and August 16, 2021, expecting to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">close</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> these transactions over the course of 2022.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Thus, despite not having fulfilled all the conditions precedent for its completion, on December 31, 2021, Ultrapar classified these businesses as assets and liabilities held for sale and discontinued operations. For the purposes of this document, in fiscal year 2021, references to Ultrapar or Ultra </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Group </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">refer to continuing operations, unless otherwise indicated. Finally, to allow comparability with previous periods, at some points in this report the Company's pro</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forma financial information is mentioned, that is, the data consider</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the sum of continu</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 21.4pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">a.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">General financial and equity conditions</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 0.45pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company overview</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">origins goes</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> back to 1937 when Ernesto Igel founded Ultragaz, a company which pioneered the use of Liquified Petroleum Gas (LPG) as cooking gas. Since then, Ultrapar has grown and expanded its markets transforming into one of the largest corporate groups in Brazil. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of the date of this report, Ultrapar owns the following main businesses: Ipiranga, Ultragaz and Ultracargo (energy and infrasctructure), Oxiteno (specialty chemicals), Extrafarma (retail pharmacy) and abastece a&#237; (digital payments).</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz is a pioneer and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">one of the largest </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">companies </font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the domestic market</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (one of the largest markets worldwide)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> for LPG distribution, besides being a reference in innovation and in the development of applications for the use of the product. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, Ultragaz delivered LPG to an estimated 11 million households through a network of approximately 6 thousand independent retailers in the bottled segment, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in addition to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> approximately 58 thousand customers in the bulk segment.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo is the largest private company of liquid bulk storage in Brazil</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">with seven port terminals </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in strategic locations in the Northeast, Southeast</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">South</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and, recently, North, with the beginning of operations </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">at the new terminal in the port of Vila do Conde,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Par&#225; state,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> on December 2021, three months before planned</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno is a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> leader </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">company </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in the production of surfactants and specialty chemicals in Latin America</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">t has eleven industrial units: six in Brazil, three in Mexico, one in the United States and one in Uruguay. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga is one of the largest fuels and lubricant distribution companies in the country, incorporating a network of more than 7 thousand service stations, each one of them increasingly more complete and digitized, in addition to the largest convenience store franchise, the AmPm network with 1.8 thousand stores. Extrafarma is a retail pharmacy network with its origins in the North region of Brazil, today with a presence in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ten Brazilian states</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> with </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">399</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> drugstores and four distribution centers. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> a&#237;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> is</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> a digital established in 2020 to leverage the benefits of the Km de Vantagens (Km of Advantages Program) and the abastece a&#237; (&#8220;fill up here&#8221;).</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, increased the number of its digital accounts by 2 million.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2021</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The year of 2021 was one of significant transformations for the Ultra Group.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz, Ultracargo and Oxiteno registered record results and profitability in 2021. Ipiranga and Extrafarma, in turn, had lower results in the first semester and, even with an improvement in their operations from the second semester onwards, they didn&#8217;t reach the expected levels of profitability. In this sense, we have implemented a series of operational changes and adjustments geared towards recovering Ipiranga's profitable growth trajectory over the course of 2022 and 2023.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We made significant progress in our portfolio review strategy, with the signing of the sale agreements of Oxiteno and Extrafarma (still pending approval from the Brazilian competition authority), in addition to the conclusion of the sale of our equity interest in ConectCar.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">It&#8217;s worth mentioning the significant renovation of our management and governance structure carried out in 2021, strengthening the pillars for Ultra Group&#8217;s progress and perpetuity. In April, three new members were elected to Ultrapar&#8217;s Board of Directors, adding even more experience and skills to the Company. The succession of the executive leadership position of Ultra Group and Ipiranga was also carried out, as well as the establishment and subsequent beginning of the process for the succession plan to the Ultrapar&#8217;s Chairman of the Board of Directors, with the conclusion being expected for April 2023. In addition, we also highlight the renewal of the group of managers of Ultra Group and its businesses. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At the same time, we consolidated our sustainability strategy, which became an intrinsic part of the Company's strategic plan, strengthening the integrated perspective in the decision-making process, considering financial, social, environmental and corporate governance topics. Another highlight is the establishment of the Ultrapar&#8217;s Sustainability and Corporate Affairs executive position, in March 2021.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">As to our consolidated financial results, net revenues totaled R$ 119 billion, 46% higher than 2020, as a result of higher revenues in all businesses, except Extrafarma. The Company achieved an EBITDA of R$ 4.1 billion, excluding the effects of Extrafarma&#8217;s impairment and capital gain from ConectCar&#8217;s sale, and a net income of R$ 884 million in 2021, of which R$ 404 million should be distributed as dividends to shareholders. We also highlight the post-investment operational cash generation, which amounted R$ 1.3 billion and contributed to the reduction of our financial leverage in an annual comparison. In September, we issued an Agribusiness Receivables Certificate (locally known as &#8220;CRA&#8221;) in the amount of R$ 960 million and cost of 102.75% of the CDI rate (Brazilian interbank deposit), extending our debt profile. As a result, we ended the year with a cash position of R$ 6.7 billion and an average debt duration of 4.6 years.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2020</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2020, our businesses began the year on a promising note, driven by the positive macroeconomic outlook in Brazil. However, from March, the novel coronavirus pandemic brought severe consequences for the global economy, strongly affecting Brazil. In addition to the economic impacts, precautionary measures of social distancing and restrictions on personal mobility accelerated the tendency towards structural changes, among them remote working and virtual interconnectivity among people.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">To ensure the maintenance of a high level of liquidity in light of the uncertainties caused by the pandemic in the first few months, we adopted greater selectivity in our investments, raised new lines of financing and negotiated more elastic payment terms with our suppliers. On the other side, we worked with our partners and clients, negotiating measures to ease pressures on their working capital, thus contributing to ensure the integrity and continuity of the value chains we are part of.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The year 2020 underscored the resilience of our portfolio, with growing results at all our businesses with the exception of Ipiranga, which the activity was directly impacted by social </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">distancing measures and restrictions on mobility.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The net revenue amounted to R$ 81.2 billion, 9% less than 2019, and was directly affected by the pandemic. Despite this, the Company recorded an EBITDA of R$ 3.5 billion, or 4.3% EBITDA margin, representing an improved margin compared </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the 3.1% in 2019.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net income increased from R$ 40</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2019 to R$ 92</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, R$ 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">79.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million of which </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">were</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> distributed via dividends to the shareholders. The operational cash generation (after investments) was a record, totaling R$ 2.1 billion and contributing to the gradual reduction in our financial leverage</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in the year</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. We </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ended</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> with a cash position of R$ 8.7 billion and duration of our debt standing at 4.6 years.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Finally, we have intensified our </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">acting </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and dedication of resources to themes related to ESG. In 2020, we developed our materiality matrix, approved our Sustainability Policy, and published our first Integrated Report following the GRI guidelines.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2019</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We began the year with an optimistic view in relation to the economic growth of Brazil and its positive effects on the business environment, an outlook which already proved unrealistic in the first few months of the year given the delay of executing the federal administration&#8217;s reform package. Despite this, even with lower growth than initially anticipated, there were important signs indicating a more dynamic macroeconomic environment, with lower interest rates, inflation under control and further announcements of additional privatizations and tender bids. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We ended 2019 with an Adjusted EBITDA of R$ 3.1 billion, practically stable in relation to 2018, with an operational cash generation after investments of R$ 1.7 billion and a net income of R$ 906</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, of which R$ 47</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9 million were paid out via dividends to our shareholders. These amounts exclude IFRS 16, the impairment of R$ 593</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million with respect to the goodwill generated on the acquisition of Extrafarma, and a further write down of R$ 14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million on the sale of Oxiteno Andina and the Conduct and Adjustment Agreement (&#8220;TAC&#8221;) of R$ 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million at Ultracargo. Ultrapar closed 2019 with total assets of R$ 29.7 billion and total equity of R$ 9.9 billion, both excluding the effects of IFRS 16.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2019, we extended our debt profile, raising US$ 500</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in notes in the international market with a ten-year maturity, and using the proceeds for liability management. The reduction in our financial leverage remains an important objective and, in this context, we continue to be selective in the allocation of capital, albeit without sacrificing growth.</font></p>
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<h1 style="margin: 0pt 0pt 0pt 21.4pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">b.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Capital structure and possibility of redemption of shares</font></h1>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Capital structure</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company's capital stock subscribed and paid up on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> was </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">171</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8 mil</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">lion</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">composed by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">107,683</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">common shares, without par value. On February, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">43,925</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> new common shares were issued as a result of the partial exercising of the subscription warrants for the acquisition of Extrafarma, approved by the extraordinary general shareholders meeting of January 31, 2014. As a result, the Company&#8217;s capital stock is now divided into 1,115,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">151,608</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">common shares with no par value.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2021</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reached year end </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> with R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16,377.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in gross financial debt and R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,463.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in total cash, getting to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">11,914.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million net financial debt,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> an</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">increase of R$3,210.1 million (+37%)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in relation to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Considering leases payable (IFRS 16) of R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,348.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, the total net debt was R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">13,262.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), the gross financial debt at the end of 2021 was R$ 16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">619</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4 million and R$ 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">690</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4 million in total cash, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">implying a net debt of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 9,929.0 million, an increase of R$ 1,224.9 million (+14%). Considering leases payable (IFRS 16) of R$ 1,762.0 million, the total net debt was R$ 11,691.0 million.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, Ultrapar&#8217;s shareholders&#8217; equity amounted to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10,469.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, resulting in a net financial debt (ex-IFRS 16) to shareholders&#8217; equity ratio of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">114</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), the same ratio was 95%. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2020</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reached year end 2020 with R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17,376.2 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">million in gross </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt and R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8,672.2 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">million in total cash, getting to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8,704.1 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">million net </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">practically in line</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in relation to 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering leases payable (IFRS 16) of R$ 1,833.3 million, the total net debt was R$ 10,537.3 million. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">On December 31, 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8217;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s shareholders&#8217; equity </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">amounted to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 9,910.3 million, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">resulting in a net </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt (ex-IFRS 16) to shareholders&#8217; equity ratio of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">88%.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2019</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reached year end 2019 with R$ 14,392.7 million in gross </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt and R$ 5,712.1 million in total cash, getting to R$ 8,680.6 million net </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt, an increase of R$ 46</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9 million in relation to 2018.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Considering leases payable (IFRS 16) of R$ 1,588.7 million, the total net debt was R$ 10,269.3 million. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">On December 31, 2019, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s shareholders&#8217; equity amounted to R$ 9,835.2 million, resulting in a net </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt (ex-IFRS 16) to shareholders&#8217; equity ratio of 88%.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 7.1pt; text-align: justify;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 29.35pt;">
<td style="vertical-align: top; width: 92.2pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 17.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Pro forma</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% of shareholders&#8217; equity</font></p>
</td>
<td style="vertical-align: top; width: 42.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.9pt 0pt 5.9pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.9pt; margin: 0pt 0pt 0pt 18.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% of shareholders&#8217; equity</font></p>
</td>
<td style="vertical-align: top; width: 42.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt 11pt 0pt 10.95pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.9pt; margin: 0pt 0pt 0pt 18.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% of shareholders&#8217; equity</font></p>
</td>
<td style="vertical-align: top; width: 42.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt 11pt 0pt 10.9pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.9pt; margin: 0pt 0pt 0pt 18.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% of shareholders&#8217; equity</font></p>
</td>
</tr>
<tr style="height: 14.5pt;">
<td style="vertical-align: top; width: 92.2pt;">
<p style="margin: 0pt 0pt 0pt 3.95pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Gross financial debt</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt;">
<p style="margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16,619.4</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt;">
<p style="margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">159%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16,377.6</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">156%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17,376.2</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">175%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14,392.7</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">146%</font></p>
</td>
</tr>
<tr style="height: 10.4pt;">
<td style="vertical-align: top; width: 92.2pt;">
<p style="margin: 0pt 0pt 0pt 3.95pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash and financial investments</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6,690.4</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">64%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,463.5</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">43%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8,672.2</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">88%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,712.1</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">58%</font></p>
</td>
</tr>
<tr style="height: 13.3pt;">
<td style="vertical-align: top; width: 92.2pt;">
<p style="margin: 0pt 0pt 0pt 3.95pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net financial debt</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9,929.0</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">95%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">11,914.2</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">114%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8,704.1</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">88%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8,680.6</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">88%</font></p>
</td>
</tr>
<tr style="height: 13.3pt;">
<td style="vertical-align: top; width: 92.2pt;">
<p style="margin: 0pt 0pt 0pt 3.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Leases payable</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,762.0</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,348.3</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,833.3</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">18%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,588.7</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16%</font></p>
</td>
</tr>
<tr style="height: 13.3pt;">
<td style="vertical-align: top; width: 92.2pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 3.95pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total net debt</font></p>
</td>
<td style="vertical-align: top; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">11,691.0</font></p>
</td>
<td style="vertical-align: top; width: 77.95pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 5pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">112%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13,262.5</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">127%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10,537.3</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">106%</font></p>
</td>
<td style="vertical-align: middle; width: 42.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10,269.3</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">104%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 7.1pt; text-align: justify;"><br></p>
<h1 style="margin: 0pt 0pt 0pt 21.4pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">c.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Capacity to honor our financial obligations</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Our main sources of liquidity derive from (i) cash, cash equivalents and financial investments, (ii) cash flow from operations, and (iii) loans, financings, debentures, and international bonds. We believe that these sources are sufficient to meet our current funding requirements, including, without limitation, working capital, investments, debt amortization and payment of dividends.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We believe we have sufficient working capital to meet our current needs. In addition to the cash flow from operations during the year, as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, we had R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,084.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in cash, cash equivalents and short-term financial investments.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">we had R$ 5,818.7 in the same </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">line</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Gross debt maturing from January to December 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, including estimated interest on financings, totals R$ 3,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">605.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, or R$ 3,848.8 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">We expect to spend approximately R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">14.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> billion to meet contractual obligations over the next five years, including amortization and interest payments on existing financings. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the balance to be paid by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">both </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">continu</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">disburse</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ment</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> over the next five years is</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> approximately R$ 17.4 billion. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 268px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="vertical-align: middle; width: 36.18%; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 17.68%; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2022-2026</font></p>
</td>
<td style="vertical-align: top; width: 15.38%; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2022</font></p>
</td>
<td style="vertical-align: top; width: 15.38%; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2023-2024</font></p>
</td>
<td style="vertical-align: top; width: 15.38%; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2025-2026</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 36.18%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financings and interest on financing contracts </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(1)</font></p>
</td>
<td style="vertical-align: bottom; width: 17.68%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">924</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">605</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">081</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">237</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 36.18%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Hedge instruments</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(1)</font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(2)</font></p>
</td>
<td style="vertical-align: bottom; width: 17.68%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">656</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">214</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">272</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">169</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 36.18%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Leases payable </font></p>
</td>
<td style="vertical-align: bottom; width: 17.68%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">180</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">304</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">505</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">370</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 36.18%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Low-value asset leases </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(3)</font></p>
</td>
<td style="vertical-align: bottom; width: 17.68%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 47px;">
<td style="vertical-align: middle; width: 36.18%; height: 47px;">
<p style="margin: 0pt 22.3pt 0pt 5.75pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Estimated funds for financing the pension plan and other post-retirement benefits </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(4)</font></p>
</td>
<td style="width: 17.68%; height: 47px; vertical-align: middle;" valign="middle">
<p style="font-size: 9pt; line-height: 200%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">116</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="width: 15.38%; height: 47px; vertical-align: middle;" valign="middle">
<p style="font-size: 9pt; line-height: 200%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="width: 15.38%; height: 47px; vertical-align: middle;" valign="middle">
<p style="font-size: 9pt; line-height: 200%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="width: 15.38%; height: 47px; vertical-align: middle;" valign="middle">
<p style="font-size: 9pt; line-height: 200%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">48</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: middle; width: 36.18%; height: 34px;">
<p style="margin: 0pt 0pt 0pt 5.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum handling obligations &#8211; load</font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(5)</font></p>
</td>
<td style="width: 17.68%; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">44</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="width: 15.38%; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="width: 15.38%; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="width: 15.38%; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 36.18%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Subtotal</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="vertical-align: middle; width: 17.68%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">923</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">160</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">920</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">842</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 36.18%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.68%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: top; width: 36.18%; height: 34px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Subtotal from discontinued </font></p>
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">operations</font></p>
</td>
<td style="width: 17.68%; height: 34px; border-bottom: 1pt solid rgb(0, 0, 0); vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">462</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="width: 15.38%; height: 34px; border-bottom: 1pt solid rgb(0, 0, 0); vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">944</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="width: 15.38%; height: 34px; border-bottom: 1pt solid rgb(0, 0, 0); vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">860</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="width: 15.38%; height: 34px; border-bottom: 1pt solid rgb(0, 0, 0); vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">658</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 36.18%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.68%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 36.18%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total </font></p>
</td>
<td style="vertical-align: middle; width: 17.68%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> 17</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">385</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">104</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">780</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="vertical-align: bottom; width: 15.38%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">500</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
</tr>

</table>
<table style="width: 100%; margin: 0px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 3.43137%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 6pt;">(1)</font></p>
</td>
<td style="width: 96.5686%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Includes estimated interest payments on short- and long-term debt. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Excludes information on derivatives, whose fair value is disclosed in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote 31</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the Company&#8217;s financial statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Calculation of the estimated interest on financings makes certain macroeconomic assumptions, including, averaged for the period: (i) DI at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.74% in 2022 and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10.32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% in 2023; (ii) Brazilian Real-to-US Dollar exchange rate at R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.75</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in 2022, R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in 2023, R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in 2024, R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4.90</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in 2025; (iii) TJLP at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%, and (iv) IPCA at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 3.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2023</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in 2024 and 3.0 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">from </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2025</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. (Source: B3, Focus Bulletin, financial institutions).</font><font style="background-color: #ffff00; font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
</td>
</tr>
<tr>
<td style="width: 3.43137%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 6pt;">(2)</font></p>
</td>
<td style="width: 96.5686%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Hedge instruments were estimated based on US Dollar forwards and the forward curves of DI x Pr&#233; and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">DI</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> x IPCA contracts, at the B3 quote on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, and the LIBOR forward curve (ICE) and commodities heating oil contracts quoted at the New York Mercantile Exchange (&#8220;NYMEX&#8221;) on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. The table above considers only hedges with a negative forecast result upon liquidation.&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="width: 3.43137%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 6pt;">(3)</font></p>
</td>
<td style="width: 96.5686%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Subsidiaries Ultragaz, Bahiana, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPP and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Serma have low-value, short-term leases with variable payments associated with plant equipment, information technology equipment, vehicles and commercial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">real estate</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. The subsidiaries have the option to purchase information technology equipment at a price equivalent to fair value on the strike date and management does not intend to exercise the option. Recognized expenses in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> were R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">13 million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
</tr>
<tr>
<td style="width: 3.43137%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 6pt;">(4)</font></p>
</td>
<td style="width: 96.5686%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The estimated payment amount was calculated based on: (i) 3.25% inflation assumption, (ii) average participant age on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (39 years) and (iii) the Company&#8217;s contribution in December </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
</tr>
<tr>
<td style="width: 3.43137%; vertical-align: top; margin: 0px; text-indent: 0px; padding: 0px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 6pt;">(5)</font></p>
</td>
<td style="width: 96.5686%; vertical-align: top; padding: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Tequimar has agreements with Companhia de Docas do Estado da Bahia, with Governador Eraldo Gueiros Industrial Port Complex, with Empresa Maranhense de Administra&#231;&#227;o Portu&#225;ria and with Companhia Docas do Par&#225;, in connection with port facilities in Aratu, Suape, Itaqui and Vila do Conde (operational startup </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in December 2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), respectively. The agreements provide for minimum cargo handling of (i) 397,000 annual tons until 2031, and 900,000 annual tons until 2022, in Aratu; (ii) 250,000 annual tons until 2027, and 400,000 annual tons until 2029, in Suape; (iii) 1,222,377 cubic meters annually until 2049, in Itaqui; and (iv) 343,625 annual tons starting in 2023, in Vila do Conde (quantity varies annually). If annual handling lies below the required minimum, the controlling entity must pay the difference between effective handling and the minimum per the agreement, based on the port fees in force on the agreed payment date. On December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, these fees were R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.37</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.67</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> per ton in Aratu</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Suape,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> respectively, and R$ 0.85 and R$ 2.24 per cubic meter in Itaqui and Vila do Conde, respectively. </font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.1.f. Indebtedness level and debt profile&#8221;, &#8220;Item 10.8.b. Other off-balance sheet items&#8221; and &#8220;Item 10.8.a.i. Quantitative and qualitative description of investments in progress and estimated investments&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We expect to meet these cash needs by means of a combination of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> cash, cash equivalents and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">financial investments, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">cash from operations and financing, including new debt financing and the refinancing of some of our debt.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 5.95pt 37.95pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<h1 style="margin: 0pt 0pt 0pt 21.4pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">d.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Funding sources for working capital and investment in non-current assets</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We reported cash flow from operating activities of R$ 1,603.4 million in 2021. Considering both continuing and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), the cash flow from operating activities was R$ 2,586.0 million, R$ 3,138</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1 million and R$ 2,924.9 million in 2021, 2020 and 2019, respectively.&nbsp;&nbsp;&nbsp;&nbsp; The 18% drop in 2021 compared to 2020 resulted from a higher investment in working capital, mainly due to an increase of the costs of fuel, LPG and raw materials, mitigated by a higher EBITDA. The 7% increase in 2020 compared to 2019 is manly a result of lower working capital consumption in the period. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2019, the continuation of initiatives adopted to optimize working cash contributed to cash flow steadiness from 2018, despite the reduced income. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, considering both the continuing and discontinued operations (pro forma), the investment activities amounted to R$ 724.1 million, out of which i) R$ 158.7 million were used for the investment activities from the discontinued operations, and ii) R$ 882.9 million were a result of the investment activities from continuing operations, with R$ 1,863.1 million resulting from the net redemption of financial investments, partially offset by the investment of R$ 980.2 million in the acquisition of fixed assets, intangible assets and capital injection in controlled projects, net of divested assets.&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash flow from investment activities was R$ 2,136.4 million in 2020, of which R$ 1,116.8 million concern financial investments net of redemptions and R$ 1,019.6 million concern investment in fixed and intangible assets and capital injections into jointly controlled projects, all net of divested assets. In 2019, cash flow from investment activities was R$ 1,835.3 million, of which R$ 555.4 million concern financial investments net of redemptions and R$ 1,279.9 million were invested in fixed and intangible assets, capital injections into jointly controlled projects, and direct startup costs of right-of-use assets (associated with bids for port terminals that Ultracargo and Ipiranga won), all net of divested assets. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, the cash consumption </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">related to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">funding activities was R$ 2,802.6 million. Considering both continuing and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), the cash flow from funding activities was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 3,355.5 million, R$ 592.3 million and R$ 2,922.2 million in 2021, 2020 and 2019, respectively.&nbsp;&nbsp;&nbsp;&nbsp; The higher consumption in 2021 compared to 2020 mainly resulted from a higher preventive fundraising carried out in 2020 because of the pandemic in Brazil, the indebtedness management initiatives &#8212; such as paying in advance those debts with a higher cost, thus reducing the effects with loading costs &#8212;, and the higher payment of dividends (retained in 2020). </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash flow from financing activities produced cash consumption of R$ 592.3 million, R$ 2,922.2 million and R$ 801.0 million in 2020, 2019 and 2018, respectively. In 2020, cash consumption by funding activities was down R$ 2,329.9 million compared to 2019, due mainly to funding from new loans</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, especially preventive fundraising carried out at the beginning of the pandemic in Brazil,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and reduced interest and dividends payments. In 2019, cash consumption by funding activities was up R$ 2,121.2 million compared to 2018, due mainly to reduced funding from new loans and increased interest payments, particularly in connection with the financing taken in 2013, which featured a bullet payment upon maturity.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Accordingly, cash and cash equivalents totaled </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 2,280.1 million in 2021, or R$ 2,668.1 million </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 2,661.5 million in 2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 2,115.4 million in 2019</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
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<h1 style="margin: 0pt 0pt 0pt 21.4pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">e.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Funding sources for working capital and investment in non-current activities to be used in the event of liquidity shortfalls </font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We had no liquidity shortfalls in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2019. We believe that Ultrapar has sufficient own resources and operational cash generation to finance its needs for working capital and investments estimated for </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. In addition, if necessary, we have access to third party financing resources.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<h1 style="margin: 0pt 38.25pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">f.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Indebtedness level and debt profile</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For more information on indebtedness levels and the characteristics of the Company's debts, read </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">note</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 17 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to our</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021 f</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">inancial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tatements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total debt in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, including all current and non-current liabilities, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">remained stable </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">relative </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to 2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#8211; from R$ 26,339.9 million on December 31, 2020 to R$ 25,999.7 million on December 31, 2021. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">),</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> it </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">made</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 28,541.1 million on 2021, increase of 8%. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Gross financial debt </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">showed decrease of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, from R$ 17,376.2 on December 31, 2020 to R$ 16,377.6 on December 31, 2021. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), it made R$ 16,619.4 million, a decrease of 4%.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Short-term financial debt was 19% of our gross financial debt in the period ending December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021 and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The table next shows our financial debt in the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">indicated</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">periods</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Loans</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Currency</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Weighted average</font></p>
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">financial charges on</font></p>
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Principal and interest accrued as of </font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
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<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">Foreign currency</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">denominated</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">loans:</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
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<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Notes</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">the foreign market (*)</font></p>
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<p style="line-height: 9pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">+5.3%</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">821</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">267</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">213</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
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<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.2pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">loan (*)</font></p>
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<p style="line-height: 9.2pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
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<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">+4.0%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">735</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">047</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">057</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">loan (*)</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">LIBOR </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">+ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">275</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">261</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">608</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Financial</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">institutions</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">LIBOR </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(1)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">312</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">604</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Financial</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">institutions</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.75pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">154</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">132</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="vertical-align: top; width: 141.75pt; height: 26px;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Advances</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">on foreign exchange contracts</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 26px;">
<p style="line-height: 9.75pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">+3.7%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Financial</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">institutions</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.5pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">MX$ </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(2)</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">+8.4%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">39</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">41</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">loan (*)</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 7.15pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">LIBOR </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(1)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">243.8</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">BNDES</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.5pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.2</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold; letter-spacing: -0.05pt;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">denominated</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.05pt;">loans:</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; CRA</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">95.8% of DI</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">063</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">037</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">036</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; CRA (*)</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">940</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">941</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; 6th issue</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.7pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.3% of DI</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">764</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">734</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">752</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.0% of DI</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">771</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">679</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">868</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="vertical-align: middle; width: 141.75pt; height: 23px;">
<p style="line-height: 8.95pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; Ultracargo Log&#237;stica and Tequimar Vila do Conde</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 23px;">
<p style="line-height: 8.95pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 23px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.1 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 23px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">466</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 23px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 23px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Banco do Brasil floating rate</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">110.9% of DI</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">204</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">407</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">611</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Debentures &#8211; Ultracargo Log&#237;stica </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(*)</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">+6.5%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">80</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">92</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">89</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 9.3pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bank credit bill</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.3pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">DI + 3.5%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">51</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 141.75pt; height: 17px;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Financial</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">institutions</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.75pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: middle; width: 141.75pt; height: 10px;">
<p style="margin: 0.2pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">FINEP</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 10px;">
<p style="margin: 0.2pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">TJLP </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(3) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">+ 1.6%</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">29</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">41</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Promissory note &#8211; Ultrapar</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">DI</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.038</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 9.1pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">BNDES</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.1pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">TJLP </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(3)</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">62</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">BNDES</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.95pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">SELIC</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">FINEP</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12.8</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: middle; width: 141.75pt; height: 10px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Banco do Nordeste do Brasil </font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 10px;">
<p style="line-height: 8.8pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10.0</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">BNDES</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.9</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 8.2pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">FINAME</font></p>
</td>
<td style="vertical-align: middle; width: 53pt; height: 17px;">
<p style="line-height: 8.2pt; margin: 0pt 7.1pt 0pt 8.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">TJLP </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(3)</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.0</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 141.75pt; height: 17px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total loans</font></p>
</td>
<td style="vertical-align: top; width: 53pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 17px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16,180.5</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17,259.1</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14,362.7</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="vertical-align: middle; width: 141.75pt; height: 26px;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Currency and interest-rate hedging instruments (**)</font></p>
</td>
<td style="vertical-align: top; width: 53pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 26px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 26px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">197.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 26px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">117.2</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 26px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30.0</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: middle; width: 141.75pt; height: 18px;">
<p style="margin: 0.6pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Gross debt from</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> continu</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> operations</font></p>
</td>
<td style="vertical-align: top; width: 53pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16,377.6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17,376.2</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14,392.7</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="vertical-align: middle; width: 141.75pt; height: 26px;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Gross debt from discontinued operations</font></p>
</td>
<td style="vertical-align: top; width: 53pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">241.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 26px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: middle; width: 141.75pt; height: 18px;">
<p style="margin: 0.6pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Gross debt (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: top; width: 53pt; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 96.45pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.1pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16,619.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17,376.2</font></p>
</td>
<td style="vertical-align: middle; width: 57.25pt; height: 18px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14,392.7</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 3pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(*)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Operation designated for </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">hedge accounting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (see </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote 3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.h of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> consolidated financial statements). </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(**) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Accumulated losses (see </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">j</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> consolidated financial statements).&nbsp;</font></p>
<table style="width: 100%; margin: 0px; text-indent: 0px; height: 59px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 17px;">
<td style="width: 7.96569%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 17px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">(1)</font></p>
</td>
<td style="width: 92.0343%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 17px;" valign="top">
<p style="line-height: 9.55pt; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">LIBOR &#8211; London Interbank Offered</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Rate.&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="width: 7.96569%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 17px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">(2)</font></p>
</td>
<td style="width: 92.0343%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 17px;" valign="top">
<p style="font-size: 9pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">MX$</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;"> is the Mexican currency </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(Mexican </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Peso</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="width: 7.96569%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 25px;" valign="top">
<p style="font-size: 6pt; line-height: 120%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">(3)</font></p>
</td>
<td style="width: 92.0343%; padding: 0px; margin: 0px; text-indent: 0px; vertical-align: top; height: 25px;" valign="top">
<p style="line-height: 9.55pt; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">TJLP (Long-term Interest Rate) set by the National Monetary Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">is the basic cost of financing for </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Banco Nacional de Desenvolviment&nbsp;(&#8220;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">BNDES</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8221;)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. On December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, the TJLP was set at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% per year.</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt 7.1pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Changes in loans, financing and debentures are shown below: </font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: auto; font-family: 'times new roman'; font-size: 10pt; width: 90%; margin-right: auto;" width="90%">

<tr style="height: 8.85pt;">
<td style="vertical-align: middle; width: 311.25pt;">
<p style="line-height: 7.9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Balance as of December 31,&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">376</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 9.7pt;">
<td style="vertical-align: top; width: 311.25pt;">
<p style="line-height: 8.7pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">New loans and debentures with</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">cash</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">effect</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">462</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 9.75pt;">
<td style="vertical-align: top; width: 311.25pt;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Interest</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">accrued</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">801</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 9.75pt;">
<td style="vertical-align: middle; width: 311.25pt;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Principal payments</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">922</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 9.7pt;">
<td style="vertical-align: middle; width: 311.25pt;">
<p style="line-height: 8.75pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest payments </font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">749</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 9.75pt;">
<td style="vertical-align: top; width: 311.25pt;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;">Monetary </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">and exchange rate variation</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">800</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 10pt;">
<td style="vertical-align: top; width: 311.25pt;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Change</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">in fair value</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(229</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 10pt;">
<td style="vertical-align: top; width: 311.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Hedge Result</font></p>
</td>
<td style="vertical-align: middle; width: 84pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">80</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 10.8pt;">
<td style="vertical-align: middle; width: 311.25pt;">
<p style="line-height: 9.25pt; margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Balance (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">) as of December 31, 2021</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">619</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">4</font></p>
</td>
</tr>
<tr style="height: 10.8pt;">
<td style="vertical-align: middle; width: 311.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.25pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reclassification to liabilities held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 84pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(241</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
</tr>
<tr style="height: 10.8pt;">
<td style="vertical-align: middle; width: 311.25pt;">
<p style="line-height: 9.25pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Balance as of December 31, 2021</font></p>
</td>
<td style="vertical-align: middle; width: 84pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">377</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">6</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Our consolidated debt as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> had the following maturity schedule:&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 0px; border-collapse: collapse; margin-left: auto; font-family: 'times new roman'; font-size: 10pt; width: 80%; margin-right: auto;" width="80%">

<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Maturity</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(R$ million)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.105,4</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2023</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">097,8</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2024</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">774,1</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2025</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">269,6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2026</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.055,9</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and later</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.316,6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; width: 170.85pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16,619.4</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 148.8pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reclassification to liabilities held for sale</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(241</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 148.8pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 1.4pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
<td style="vertical-align: top; width: 170.85pt; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">377</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.1.c. Capacity to honor our financial obligations&#8221;.</font></p>
</div>
<p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<h1 style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 28.4pt; orphans: 0; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">i.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Relevant loan and financing contracts</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Notes in the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> market</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On October 6, 2016, the subsidiary Ultrapar International issued US$ 750 million (equivalent to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,185.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) in notes in the foreign market, maturing in October 2026, with interest rate of 5.25% per year, paid semi</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">annually. The issue price was 98.097% of the face value of the note. The notes were guaranteed by Ultrapar and its subsidiary IPP. Ultrapar has designated hedging instruments for this transaction (see </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">34</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.h.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2 and 34.h.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the consolidated financial statements).</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 5.95pt 6.1pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">On</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">June</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;"> 2019,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">International</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">subsidiary</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;"> issued US$</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">500</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;"> million </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(equivalent</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">790.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 2.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">million</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">December</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">31,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">notes</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">market,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">maturing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">June</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2029</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">with</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">an</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">interest</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 3.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">rate</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.25%</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">per year,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">paid</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">semi</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">annually.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">The</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> issue </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">price</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">was</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">face</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">value</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">note.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">The</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 2.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">notes</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">were</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">guaranteed</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">by</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">its subsidiary IPP</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">has</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">designated</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">hedging</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 4.4pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">instruments</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">for</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">this</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">transaction</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(see</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">34</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">.h.3 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of the consolidated financial statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">).</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 8.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">On</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">June</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 21,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">2019,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">subsidiary </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">International </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">repurchased</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">US$</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">200 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">million</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(equivalent</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">116.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">million</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">December</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">31,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.05pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">notes</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">foreign</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">market</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">maturing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">October</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">2026</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On July 13, 2020, subsidiary Ultrapar International reopened sales of the notes in the foreign market issued in 2019, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">with a new emission </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in the amount of US$ 350 million (equivalent to R$ 1,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">953.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) maturing in June 2029 and at an interest rate of 5.25% p.a., paid semi-annually. The issue price was 99.994% of the note&#8217;s face value. The notes were secured by Ultrapar and its subsidiary IPP.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Because of the notes issued in the foreign market, Ultrapar and its subsidiaries are subject to certain commitments, including:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Restriction on sale of all, or substantially all assets of Ultrapar and its subsidiaries Ultrapar International and IPP.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Restriction on encumbrance of assets exceeding US$ 150 million (equivalent to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">837.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), or 15% of Ultrapar&#8217;s consolidated tangible assets.</font></li>
</ul>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">Ultrapar and its subsidiaries are in compliance with the levels of covenants required by this debt. The restrictions imposed on Ultrapar and its subsidiaries are customary in transactions of this nature and have not limited their ability to conduct their business to date.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Foreign loans</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP has foreign loans in the amount of US$ 175.0 million&nbsp;(equivalent to R$ 976.6 million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as of December 31, 2021). IPP also contracted hedging instruments </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">against</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> floating interest rate in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">U.S. dollar and exchange rate variation, changing the foreign loans charges, on average, to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">104.9% of DI. IPP designated these hedging instruments as a fair value hedge (see Note 34.h.1).</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Therefore, loans and hedging instruments are both measured at fair value from inception, with</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">changes in fair value recognized through profit or loss. The foreign loans are secured by the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The maturity of the foreign loans is distributed as follows:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.1pt 0pt 0.05pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 13.75pt;">
<td style="vertical-align: middle; width: 110.6pt;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Maturity</font></p>
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<td style="vertical-align: middle; width: 96.4pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">US$ (million)</font></p>
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<td style="vertical-align: middle; width: 104.95pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">R$ (million)</font></p>
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<td style="vertical-align: middle; width: 99.8pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Cost as % of DI</font></p>
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<tr style="height: 14.65pt;">
<td style="vertical-align: middle; width: 110.6pt;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Charges&#185;</font></p>
</td>
<td style="vertical-align: middle; width: 96.4pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.2</font></p>
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<td style="vertical-align: middle; width: 104.95pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.8</font></p>
</td>
<td style="vertical-align: middle; width: 99.8pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
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<tr style="height: 9.75pt;">
<td style="vertical-align: middle; width: 110.6pt;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jun/22</font></p>
</td>
<td style="vertical-align: middle; width: 96.4pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50.0</font></p>
</td>
<td style="vertical-align: middle; width: 104.95pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">279.0</font></p>
</td>
<td style="vertical-align: middle; width: 99.8pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.0</font></p>
</td>
</tr>
<tr style="height: 9.75pt;">
<td style="vertical-align: middle; width: 110.6pt;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sep/23</font></p>
</td>
<td style="vertical-align: middle; width: 96.4pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">60.0</font></p>
</td>
<td style="vertical-align: middle; width: 104.95pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">334.8</font></p>
</td>
<td style="vertical-align: middle; width: 99.8pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.0</font></p>
</td>
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<tr style="height: 9.7pt;">
<td style="vertical-align: middle; width: 110.6pt;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sep/23</font></p>
</td>
<td style="vertical-align: middle; width: 96.4pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">65.0</font></p>
</td>
<td style="vertical-align: middle; width: 104.95pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">362.7</font></p>
</td>
<td style="vertical-align: middle; width: 99.8pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">104.8</font></p>
</td>
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<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 110.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total / average cost</font></p>
</td>
<td style="vertical-align: middle; width: 96.4pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">181.2</font></p>
</td>
<td style="vertical-align: middle; width: 104.95pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">011</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font></p>
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<td style="vertical-align: middle; width: 99.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">104.9</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 0.4pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp; &#185; Includes interest, transaction cost and mark</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">et</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-to-market.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Debentures</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: &quot;Century Gothic&quot;; font-size: 9pt; font-weight: bold;"><font style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: Calibri; font-size: 10pt;">1)</font><font style="color: rgb(0, 0, 0); font: 7pt &quot;Times New Roman&quot;; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -14.1333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In September 2021, subsidiary IPP carried out its tenth issue of debentures in the total amount of R$ 960.0 million, in a single series of 960.0 million&nbsp;simple, nonconvertible, registered, book-entry and unsecured debentures, privately placed by Vert<font>&nbsp;</font></font>Companhia<font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -14.1333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font></font>Securitizadora<font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -14.1333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. The funds were used exclusively for the purchase of ethanol by the subsidiary IPP. The debentures were subscribed for the purpose to bind the issuance of CRA. The financial settlement<font>&nbsp;</font></font>ocurred<font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -14.1333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>on September 16, 2021.</font></font></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The debentures have an additional guarantee from Ultrapar and the main characteristics are as</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">follows</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: </font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount: </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">960</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">September 15, 2028</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8287%</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:&nbsp; </font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">2)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In March 2021 the subsidiary Ultracargo Log&#237;stica made its second issuance of debentures, in a single series of 100 thousand simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';">100</font><font style="color: #000000; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';">,</font><font style="color: #000000; font-size: 9pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';">000</font></td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">March 15, 2028</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.37%</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="margin: 6pt 0cm 0cm 7.1pt; text-align: justify; line-height: 120%; font-size: 10pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US;"><br></font></p>
<p style="margin: 6pt 0cm 0cm 7.1pt; text-align: justify; line-height: 120%; font-size: 10pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US;">The subsidiary Ultracargo Log&#237;stica contracted hedging instruments subjected interest rate variation changing the debentures fixed for 111.4% of the DI. Ultracargo Log&#237;stica designated these hedging instruments as fair value hedges therefore debentures and hedging instruments are both measured at fair value from inception with changes in fair value recognized in profit or loss.</font></p>
<p style="margin: 6pt 0cm 0cm 7.1pt; text-align: justify; line-height: 120%; font-size: 10pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">3)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In March 2021 the subsidiary Tequimar Vila do Conde made its first issuance of debentures, in a single series of 360 thousand simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">360</font><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">,</font><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">000</font><br></td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">March 15, 2028</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.04%</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The subsidiary Tequimar Vila do Conde contracted hedging instruments subjected interest rate variation changing the debentures fixed for 111.4% of the DI. Tequimar Vila do Conde designated these hedging instruments as fair value hedges therefore debentures and hedging instruments are both measured at fair value from inception with changes in fair value recognized in profit or loss.</font> <br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><br></font></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">4)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">I</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">n November 2019, the subsidiary</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Ultracargo Log&#237;stica</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> made its first issuance of debentures, in a single series of 90 thousand simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt; height: 115px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font><br></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">90</font><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">,</font><font style="color: #000000; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 9pt; text-align: justify; font-family: 'Century Gothic';">000</font></td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">November 19, 2024</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.47%</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo Log&#237;stica</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">contracted hedging instruments subjected interest rate variation, changing the debentures fixed for 99.94% of the DI. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo Log&#237;stica</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized in profit or loss.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.15pt 37.9pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">5)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In December 2018 the subsidiary IPP carried out its eighth issuance of debentures in the amount of R$ 900.0 million, in two series, being one of 660 thousand and another of 240 thousand, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Vert Companhia Securitizadora. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP. The debentures were subscribed with the purpose to bind the issuance of CRA. The financial settlement occurred on December 21, 2018. The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">First serie</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">660,000</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 18, 2023</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">97.5% of DI</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<h1 style="margin: 8.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Second serie</font></h1>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">240,000</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 15, 2025</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.61%</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 97.1% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss. </font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">6)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In March 2018, the Company made its sixth issuance of public debentures, in a single series of 1,725 thousand simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt; height: 115px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1,725,000</font></td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">March 5, 2023</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.25% of DI</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">7)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In October 2017, the subsidiary IPP carried out its seventh issuance of debentures in the amount of R$ 944</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, in two series, being on of 730,384 and another of 213,693, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Vert Companhia Securitizadora. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The debentures were later assigned and transferred to Vert Cr&#233;ditos Ltda</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">., that</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> acquired these agribusiness credit rights with the purpose to bind the issuance of Certificates of Agribusiness Receivables (CRA). The financial settlement occurred on November 1, 2017. The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<h1 style="margin: 8.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">First serie</font></h1>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">730,384</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">October 24, 2022</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">95.0% of DI</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<h1 style="margin: 8.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Second serie</font></h1>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">213,693</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">October 24, 2024</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.34%</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 97.3% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">8)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In July 2017, the subsidiary IPP made its sixth issuance of public debentures, in one single series of 1,500</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> thousand </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">simple, nonconvertible into shares and unsecured debentures, which main characteristics are as follows</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1,500,000</font></td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">July 28, 2022</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annual as from July 2021</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.0% of DI</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">9)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In April 2017, the subsidiary IPP carried out its fifth issuance of debentures, in two series, being one of 660,139 and another of 352,361, simple, nonconvertible into shares, nominative, book-entry and unsecured debentures. The debentures have been subscribed by Eco Consult &#8211; Consultoria de Opera&#231;&#245;es Financeiras Agropecu&#225;rias Ltda. The proceeds from this issuance were used exclusively for the purchase of ethanol by subsidiary IPP.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The debentures were later assigned and transferred to Eco Securitizadora de Direitos Credit&#243;rios do Agroneg&#243;cio S.A. that acquired these agribusiness credit rights with the purpose to bind the issuance of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CRA.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> The debentures have an additional guarantee from Ultrapar and the main characteristics of the debentures are as follows:</font></p>
<h1 style="margin: 8.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">First serie</font></h1>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">660,139</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April 18, 2022</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">95.0% of DI</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<h1 style="margin: 8.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Second serie</font></h1>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Amount:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">352,361</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000.00</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April 15, 2024</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPCA + 4.68%</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annually</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP contracted hedging instruments subjected to IPCA variation, changing the debentures charges linked to IPCA to 93.9% of DI. IPP designated these hedging instruments as fair value hedges; therefore, debentures and hedging instruments are both measured at fair value from inception, with changes in fair value recognized through profit or loss.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt;">10)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In May 2016, the subsidiary IPP made its fourth issuance of public debentures, in one single series of 500 simple, nominative, registered debentures, nonconvertible into shares and unsecured, which main characteristics are as follows:</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman'; font-size: 10pt; height: 101px; width: 100%;" width="100%">

<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Amount:</font></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 17px;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">500</font></td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 1,000,000.00</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">May 25, 2021</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annual as from May 2019</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105.0% of DI</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Semiannually</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt; height: 14px;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Subsidiary IPP paid in advance its fourth public issuance of debentures upon maturity.&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="width: 8.5in; margin: 0px auto;">
<p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The debentures have maturity dates distributed as shown below (includes accrued interest </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">through December 31, 2020):</font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 0.15pt 0pt 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="font-family: 'times new roman'; border-collapse: collapse; margin-left: auto; font-size: 10pt; width: 80%; margin-right: auto; height: 209px;" width="80%">

<tr style="height: 17px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 17px;">
<p style="line-height: 8.2pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Calibri; font-size: 11pt; font-weight: bold;">Maturity</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 17px;">
<p style="line-height: 8.2pt; margin: 0pt 44.75pt 0pt 45.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">R$ million</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 18px;">
<p style="line-height: 9.55pt; margin: 4.15pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 18px;">
<p style="line-height: 9.55pt; margin: 4.15pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 15px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 15px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Charges </font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">(1)</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 15px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(22.8)</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Apr/2022</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">660.1</font></p>
</td>
</tr>
<tr style="height: 11px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 11px;">
<p style="line-height: 8.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jul/2022</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 11px;">
<p style="line-height: 8.7pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">750.0</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oct/2022</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.15pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">730.4</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mar/2023</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,725.0</font></p>
</td>
</tr>
<tr style="height: 11px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 11px;">
<p style="line-height: 8.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Dec/2023</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 11px;">
<p style="line-height: 8.7pt; margin: 0pt 5.15pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">660.0</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Apr/2024</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">443.9</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oct/2024</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">267.3</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Nov/2024</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">90.0</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Dec/2025</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 12px;">
<p style="line-height: 8.8pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">287.3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 17px;">
<p style="line-height: 9.1pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mar/2028</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 17px;">
<p style="line-height: 9.1pt; margin: 0pt 5.1pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">498.5</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sep/2028</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 5.15pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">997.0</font></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="vertical-align: bottom; width: 204.2pt; height: 13px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 13px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 5.15pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
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<td style="vertical-align: bottom; width: 204.2pt; height: 13px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 133.55pt; height: 13px;">
<p style="line-height: 9.7pt; margin: 0pt 5.15pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 0.4pt 0pt 8pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Includes interest, transaction cost and market to market.</font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><br></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: &quot;Century Gothic&quot;; font-size: 9pt; font-weight: bold; text-decoration: underline; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;">Fi<font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">nancial institu</font>tions</font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In December 2021, the subsidiary Abastece A&#237; ended the year </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">with a short-term liabilities</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in the amount of R$ 4.6 million.</font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> <font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The subsidiary Oxiteno M&#233;xico S.A de C.V has contracted loan of US$ 20.0 million with maturity in April 2022. The other maturities of this item are represented by Oxiteno Uruguay with maturities between October 2021 and July 2022 and by Oxiteno USA, which has already been fully settled on its maturity in September 2021. As of December 31, 2021 the balances of R$ 163.5 million were reclassified to liabilities held for sale.</font> </font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><br></p>
<p style="margin: 6pt 0pt 0pt 7.1pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font><b><u>Notes</u></b></font></p>
<p style="font-family: 'times new roman', times; margin: 6pt 0pt 0pt 7.1pt; color: #000000; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">In April 2020 the Company made its second public issuance of notes in a single series of 40 commercial notes, not convertible into shares, of unsecured type, whose main characteristics are:</font></p>
<p style="font-family: 'times new roman', times; margin: 6pt 0pt 0pt 7.1pt; color: #000000; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><br></font></p>
<table cellspacing="0" cellpadding="0" width="100%" style="border: 1px dashed #bbbbbb; color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; 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; border-collapse: collapse; margin-left: 1.7pt; font-family: 'times new roman';">

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<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Face value unit:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 25,000,000.00</font></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Final maturity:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April 16, 2021</font></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of the face value:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Lump sum at final maturity</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">DI + 3.1%</font></p>
</td>
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<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payment of interest:</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Lump sum at final maturity</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reprice:</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 208.8pt;">
<p style="margin: 0pt; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font></p>
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<p style="margin: 0.05pt 0pt 0pt 7.1pt; color: #000000; font-family: 'times new roman', times; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 7.1pt; color: #000000; font-family: 'times new roman', times; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The Company paid in advance its second public issuance of notes on maturity.</font></p>
<p style="font-family: 'times new roman', times; margin: 6pt 0pt 0pt 7.1pt; color: #000000; 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; font-size: 9pt; line-height: 14.4px; text-align: justify;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><br></font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Banco do</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> Brasil</font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP has floating interest rate loans with Banco do Brasil in the amount of R$ 204.8 million on December 31, 2021, of which R$ 1.6 million in charges, intended for marketing, processing, or manufacturing of agricultural goods (ethanol) with maturity in May 2022.</font></p>
<p style="font-family: 'times new roman', times; line-height: 9.7pt; margin: 0pt 0pt 8pt 7.1pt; text-align: right;"><br></p>
<h1 style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 28.4pt; text-indent: -14.2pt;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">ii.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Other long-term relations with financial institutions</font></h1>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In addition to the relationships mentioned in items &#8220;10.1.f.i. Relevant loan and financing contracts&#8221; and &#8220;10.1.g. Limits of use of contracted loans and financing&#8221;, Ultrapar maintains long term relationships with financial institutions (i) in connection with the ordinary course of the business, such as the payroll of its employees, credit and collection, acquisition, payments and currency and interest rate hedging instruments and (ii) through a long-term contract between Ipiranga and Ita&#250; Unibanco for the provision of financial services and management of the Ipiranga-branded credit cards. </font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 28.4pt; text-indent: -14.2pt;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">iii.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Subordination of debt</font></h1>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 12.3pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">se</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">loans</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> do not have guarantee</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> by collateral as of December 31, 2021 (R$ 75.3 million as of December 31, 2020) and has guarantees and promissory notes in the amount of R$ 14,151.5 million as of December 31, 2021 (R$ 13,758.0 million as of December 31, 2020).</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-family: 'times new roman', times; font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 12.3pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company and its subsidiaries offer collateral in the form of letters of credit for commercial and legal proceedings in the amount of R$ 118.2 million as of December 31, 2021 (R$ 129.1 million as of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 31, 2020). </font></p>
<p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><br></p>
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<div style="font-family: 'times new roman', times;">
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<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<h1 style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 28.4pt; orphans: 0; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">iv.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Any restrictions on the obligor, in particular as concerns indebtedness and contracting new debt, distribution of dividends, assets disposal, new securities issues, and disposal of a controlling equity stake, and whether or not the issuer has been in compliance therewith</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Because of the notes issued in the overseas market, Ultrapar and its subsidiaries are subject to certain covenants, including:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Restriction on sale of all or substantially all assets of Ultrapar and its subsidiaries Ultrapar International and IPP;</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Restriction on encumbrance of assets exceeding US$ 150 million (equivalent to R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">837.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), or 15% of Ultrapar&#8217;s consolidated tangible assets.</font></li>
</ul>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and its subsidiaries are in compliance with the levels of covenants required by this debt. The restrictions imposed on the Company and its subsidiaries are customary in transactions of this nature and have not limited their ability to conduct their business to date.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 38.25pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">g.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Limits of use of contracted loans and financings and percentages already used</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 7.1pt; text-align: justify;"><br></p>
<h1 style="margin: 0pt 38.25pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">h.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Main changes in each term of the financial statements</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 0.35pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Ultrapar &#8211; Consolidated</font></p>
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<p style="line-height: 6.2pt; margin: 0pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2021 (pro forma)</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(continu</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> operations)</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2020</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2019</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">/2021 (continu</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> operations) </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">vs.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 41px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">vs.</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">19</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 127.6pt; height: 10px;">
<p style="line-height: 6.2pt; margin: 6pt 0pt 0pt 2.55pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ASSETS</font></p>
<p style="margin: 3.8pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash, cash equivalents and financial investments</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">818</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">084</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,694.8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,205.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-47</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">48</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 127.6pt; height: 10px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Trade accounts receivable and reseller financing</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">987</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">957</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,868.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,072.0</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 127.6pt; height: 10px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Inventories</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">168</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">918</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,846.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,715.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 127.6pt; height: 10px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Recoverable taxes</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">049</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">353</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,410.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,447.7</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 41px;">
<td style="vertical-align: top; width: 127.6pt; height: 41px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">555</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">555</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">478.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">465.5</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 41px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 127.6pt; height: 10px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">227</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">154</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">190.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">151.8</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 10px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 24px;">
<td style="vertical-align: top; width: 127.6pt; height: 24px;">
<p style="margin: 5.15pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Assets from subsidiaries held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 24px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 1.9pt 0pt 0pt 10.25pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total Current Assets</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">807</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">024</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17,489.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15,058.1</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">43</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 31px;">
<td style="vertical-align: top; width: 127.6pt; height: 31px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Investments&nbsp;</font></p>
</td>
<td style="vertical-align: bottom; width: 49.6pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">97</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: bottom; width: 63.8pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">78</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">167.5</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">181.6</font></p>
</td>
<td style="vertical-align: bottom; width: 77.95pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">53</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: bottom; width: 51.8pt; height: 31px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Property, plant and equipment</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">476</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">534</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8,005.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,572.8</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-31</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Intangible assets</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">716</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">471</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,782.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,762.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Right to use assets</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">001</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">651</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,150.3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,980.9</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial investments</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">871</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">379</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">977.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">506.5</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-61</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">93</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: top; width: 127.6pt; height: 36px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Trade accounts receivable and reseller financing</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">479</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">479</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">491.5</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">418.4</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Deferred income tax</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">313</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">571</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">974.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">653.7</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-41</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">49</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Taxes recoverable</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">613</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,736.0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">872.3</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-31</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">99</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Escrow deposits</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">879</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">871</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">949.8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">921.4</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: top; width: 127.6pt; height: 36px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Contractual assets with customers &#8211; exclusive rights</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">524</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">524</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,227.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,000.5</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">229</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">222</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">298.0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">266.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="vertical-align: middle; width: 127.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 1.9pt 0pt 0pt 10.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total Non-Current Assets</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19,203.3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13,986.2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">18,761.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16,137.4</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 127.6pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 1.85pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL ASSETS</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9,010.4</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9,010.4</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">36,250.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">31,195.5</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.15pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div style="font-family: 'times new roman', times; width: 8.5in; margin: 0px auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 600px; width: 100%;" width="100%">

<tr style="height: 56px;">
<td style="vertical-align: top; width: 127.6pt; height: 56px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 5.25pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">LIABILITIES</font></p>
<p style="margin: 3.8pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans, financing and debentures</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">105</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">866</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,255.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,117.4</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 56px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">191</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Leases payable</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">264</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">188</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">260.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">206.4</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-27</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Trade payables</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">232</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">790</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,040.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,700.1</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">43</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salaries and related charges</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">552</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">330</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">468.6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">405.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Taxes payable</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">298</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">229</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">286.0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">269.9</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">782</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">694</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">929.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">495.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">88</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: top; width: 127.6pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Liabilities from subsidiaries held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">541</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 1.9pt 0pt 0pt 10.25pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total Current Liabilities</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">237</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">640</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9,240.8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,195.1</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">37</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">78</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: top; width: 127.6pt; height: 34px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 5.65pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans, financing and debentures</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">514</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">511</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14,120.3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13,275.3</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Leases payable</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">497</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">159</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,573.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,382.3</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: top; width: 127.6pt; height: 36px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provisions for tax, civil and labor contingencies</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">847</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">812</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">854.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">884.1</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 36px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Post-employment benefits</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">194</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">257.6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">243.9</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-24</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 127.6pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 1.65pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">243</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">222</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">293.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">379.6</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 1.9pt 0pt 0pt 10.25pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total Non-Current Liabilities</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">304</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">900</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17,099.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16,165.2</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 52px;">
<td style="vertical-align: top; width: 127.6pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.2pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL LIABILITIES</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,541.1</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,541.1</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">26,339.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21,360.3</font></p>
</td>
<td style="vertical-align: bottom; width: 77.95pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
<td style="vertical-align: bottom; width: 51.8pt; height: 52px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 69px;">
<td style="vertical-align: top; width: 127.6pt; height: 69px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 5.25pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">EQUITY</font></p>
<p style="margin: 3.8pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Capital stock</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">171</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">171</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,171.8</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,171.8</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 69px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.35pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Reserves</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">467</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">467</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,006.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,542.3</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Treasury shares</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">488</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">488</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4)</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(489.1)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(485.4)</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 127.6pt; height: 19px;">
<p style="margin: 1.4pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">83</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(83</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(155.6)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">229.5</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-46%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 19px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 127.6pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 1.65pt 0pt 0pt 5.8pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-controlling interests</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">402</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">402</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">376.5</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">376.9</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 17px;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="vertical-align: top; width: 127.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 1.9pt 0pt 0pt 2.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL EQUITY</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">469</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">469</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9,910.3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9,835.2</font></p>
</td>
<td style="vertical-align: middle; width: 77.95pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
<td style="vertical-align: middle; width: 51.8pt; height: 21px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1%</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: bottom; width: 127.6pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 2.5pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL LIABILITIES AND EQUITY</font></p>
</td>
<td style="vertical-align: bottom; width: 49.6pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">39</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">010</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 63.8pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">39</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">010</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 49.6pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">36,250.2</font></p>
</td>
<td style="vertical-align: bottom; width: 56.7pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">31,195.5</font></p>
</td>
<td style="width: 77.95pt; height: 34px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8%</font></p>
</td>
<td style="width: 51.8pt; height: 34px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16%</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="font-family: 'times new roman', times;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<p style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<h1 style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Main changes in the consolidated balance sheet accounts as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> compared to December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">. </font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Current assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Current assets totaled R$ 25,024.2 million on December 31, 2021, an increase of R$ 7,535.1 million in relation to December 31, 2020, mainly due to the reclassification of the assets from the discontinued operations to assets from the controlled entities held for sale, partially offset by a decrease in cash, cash equivalents and financial investments.&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the current assets totaled R$ 19,807.1 million, an increase of R$ 2,318.0 million, due to an increase of inventor</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, accounts receivable, financing to clients and recoverable taxes, partially offset by a decrease in cash, cash equivalents and financial investments.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Inventorie</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Inventories totaled R$ 3,918.8 million on December 31, 2021, an increase of R$ 72.6 million in relation to December 31, 2020, resulting from the reclassification of a portion of this item as assets from controlled entities held for sale, partially offset by an increase in the cost of fuel, LPG and raw materials. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), inventories totaled R$ 6,168.6 million, an increase of R$ 2,322.4 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Trade receivables and resellers&#8217; financing</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The item of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">t</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">rade accounts receivable and reseller financing </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">totaled R$ 3,957.8 million, an increase of R$ 89.8 million in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">regards </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to December 31, 2020, due to an increase in the costs of fuel, LPG and raw materials, partially offset by the reclassification of a portion of this item as assets from controlled entities held for sale.&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), this item totaled R$ 4,987.5 million, an increase of R$ 1,119.5 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Taxes recoverable</font><font style="background-color: #ffff00; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Taxes recoverable totaled R$ 1,353.1 million, a decrease of R$ 57.9 million in relation to December 31, 2020, due to a reclassification of a portion of this item as assets from controlled entities held for sale, partially offset by the constitution of extraordinary PIS/Cofins credits at Ipiranga over the course of 2021. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the recoverable taxes totaled R$ 2,049.8 million, an increase of R$ 638.9 million in relation to December 31, 2020.&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Cash, cash </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">e</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">quivalents and financial investments</font><font style="background-color: #ffff00; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash, cash equivalents and financial investments of current assets totaled R$ 4,084.2 million on December 31, 2021, a decrease of R$ 3,610.6 million in relation to December 31, 2020, resulting from the reclassification of a portion of this item to assets from controlled entities held for sale, indebtedness management initiatives &#8212; such as the payment in advance of debts with a higher cost and the reduction of the level of exceeding cash, reducing the effects of loading cost &#8212; and the payment of dividends in 2021.&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), cash, cash equivalents and financial investments of current assets totaled R$ 5,818.7 million, a decrease of R$ 1,876.0 in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Non-current assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The non-current assets totaled R$ 13,986.2 million on December 31, 2021, a decrease of R$ 4,774.9 million in relation to December 31, 2020, mainly due to the reclassification of a portion of the non-current assets to assets from controlled entities held for sale, in the current assets.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the non-current assets totaled R$ 19,203.3 million on December 31, 2021, an increase of R$ 442.2 million in relation to December 31, 2020, due to an increase of fixed assets. </font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Property, plant and equipment</font><font style="background-color: #ffff00; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Property, plant and equipment </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">totaled R$ 5,534.6 million on December 31, 2021, a decrease of R$ 2,471.3 million in relation to December 31, 2020, due to the reclassification of a portion of the fixed assets to assets from controlled entities held for sale.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Property, plant and equipment </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">totaled R$ 8,476.5 million, an increase of R$ 470.6 million, due to investments made over the course of 2021 for the expansion, maintenance and safety of the productive units, partially offset by the depreciation in the period.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Current liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The current liabilities on December 31, 2021 totaled R$ 12,640.2 million, an increase of R$ 3,399.4 million in relation to December 31, 2020, mainly due to the reclassification of liabilities from discontinued operations to liabilities related to controlled entities and held for sale and the increase in suppliers.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the current liabilities totaled R$ 12,237.1 million, an increase of R$ 2,996.2 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Trade payables</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The item of suppliers totaled R$ 5,790.0 million on December 31, 2021, an increase of R$ 1,749.3 million in relation to December 31, 2020, mainly due to increase in the costs of fuel, LPG and raw materials, partially offset by the reclassification of a portion of this item to liabilities related to controlled entities held for sale.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the item of suppliers totaled R$ 7,232.5 million, an increase of R$ 3,191.9 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Non-current liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The non-current liabilities totaled R$ 15,900.9 million on December 31, 2021, a decrease of R$ 1,198.2 million in relation to December 31, 2020. Such decrease results from less loans, financing and long-term debentures. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the non-current liabilities totaled R$ 16,304.0 million, a decrease of R$ 795.0 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Loans, financing and debentures </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The loans, financing and debentures totaled R$ 13,511.6 million on December 31, 2021, a decrease of R$ 608.7 million in relation to December 31, 2020, resulting from the transfer of amounts maturing in 2022, from the non-current liabilities to the current liabilities, partially offset by new long-term funding arrangements and the devaluation of the Brazilian Real on foreign currency. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the loans, financing and debentures totaled R$ 13,514.0 million, a decrease of R$ 606.2 million in relation to December 31, 2020. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Equity</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s equity totaled R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10,469</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million on December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, up R$ 559.0 million from December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, due mainly to the effect of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">an increase in profit reserves and foreign exchange rate variantions on overseas subsidiaries. </font></p>
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<h1 style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Main changes in the consolidated balance sheet accounts as of December 31, 2020 compared to December 31, 2019. </font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Current assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Current assets totaled R$ 17,489.1 million on December 31, 2020, up R$ 2,431.0 million from December 31, 2019, due mainly to an increase in cash, cash equivalents and financial investments.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Cash, cash equivalents and financial investments (current</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> assets</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash, cash equivalents and financial investments as part of current assets were R$ 7,694.8 million on December 31, 2020, up R$ 2,489.2 million from December 31, 2019, because of increased </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">preventive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">funding in the period, mainly for the purposes of liquidity reinforcement in the face of the uncertainty arising from the pandemic.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Non-current assets </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-current assets totaled R$ 18,761.1 million on December 31, 2020, up R$ 2,623.7 million from December 31, 2019, due mainly to an increase in property, plant and equipment, financial investments and taxes recoverable.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">PP&amp;E and intangible assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Property, Plant &amp; Equipment and Intangible Assets totaled R$ 8,005.9 million on December 31, 2019, up R$ 433.1 million from December 31, 2019, due to investments made in fiscal year 2020, intended for production units maintenance and safety. These investments were partly offset by depreciation and amortization in the period.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial investments (non-current</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> assets</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial investments totaled R$ 977.4 million on December 31, 2020, up R$ 470.9 million from December 31, 2019, due mainly to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the appreciation of dollar on currency hedges.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Taxes recoverable (non-current</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> assets</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Taxes recoverable totaled R$ 1,736.0 million on December 31, 2020, up R$ 863.7 million from December 31, 2019, due mainly to the constitution of extraordinary PIS/Cofins credits at Oxiteno and Ipiranga over the course of 2020.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Current liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Current liabilities as of December 31, 2020 were R$ 9,240.8 million, up R$ 4,045.8 million from December 31, 2019, due mainly to an increase in loans, financing and debentures, and trade obligations.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Loans, financing and debentures (current</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> liabilities</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans financing and debentures totaled R$ 3,255.9 million on December 31, 2020, up R$ 2,138.5 million from December 31, 2019, due mainly to a transfer of amounts coming due in 2021 from non-current to current liabilities and to new short-term funding.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Trade payables</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The trade payables account was R$ 4,040.7 million on December 31, 2020, up R$ 1,340.6 million from December 31, 2019, with increases at Ipiranga and Oxiteno arising from initiatives embraced to lengthen trade payables periods and improve working capital.&nbsp;</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Non-current liabilities</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-current liabilities were R$ 17,099.1 million on December 31, 2020, up R$ 933.8 million from December 31, 2019. The increase in non-current liabilities reflects that in long-term loans, financing and debentures.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Loans, financing and debentures (non-current</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> liabilities</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans, financing and debentures totaled R$ 14,120.3 million on December 31, 2020, up R$ 845.0 million from December 31, 2019, due mainly to new long-term funding arrangements and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the devaluation of the Real on foreign financing.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Equity</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s equity totaled R$ 9,910.3 million on December 31, 2020, up R$ 75.1 million from December 31, 2019, due mainly to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the effect of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">foreign exchange rate variations </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">on </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">overseas subsidiaries, and an increase in capital reserves and profit reserves. These effects were mitigated by the exchange rate variation of the </font><font style="font-family: &quot;Century Gothic&quot;; font-size: 9pt;">cash flow hedge</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"><font style="font-style: italic;"> (</font>equity income adjustment) and a reduction in additional dividends to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">minimum required.</font></p>
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<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main change in the consolidated income statements for the fiscal year ending December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> compared to the fiscal year ending December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In order to maintain comparability and consistency with the numbers disclosed in the 2021 financial statements, we present the 2020 numbers reflecting only the result of continuing operations, which explains the difference in these numbers between this section and the year comparison section. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2020 and 2019.</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year ending December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">net revenue</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> from sales and services</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year ending December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">restated)</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">net revenue from sales and services</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710;(%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> vs. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> (restated)</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net revenue from sales and services</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">109</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">732</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">74</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">058</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">48%</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cost of goods and services sold</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(104</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">828</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0)</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">96%</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(70</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">056</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">95%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">904</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">001</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">General, administrative, sales, and commercial expenses </font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">398</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">605</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other operating results, net</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">96</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">64</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Proceeds from the disposal of assets</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">184</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">85</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">116%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Operating income</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">787</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">546</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial results</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(762</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(550</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">39%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Equity income</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(44</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-60%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Income tax and social contribution</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(188</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(304</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-38%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net income</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> from continuing operations</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">818</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">647</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">27%</font></p>
</td>
</tr>
<tr style="height: 5.65pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 5.65pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit (loss) from discontinued operations</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">65</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">280</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-77%</font></p>
</td>
</tr>
<tr style="height: 5.65pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net income</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">883</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">927</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">-5%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net income attributable to </font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shareholders of Ultrapar</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">850</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">893</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-5%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-controlling shareholders of subsidiaries </font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">33</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3%</font></p>
</td>
</tr>
<tr style="height: 2.85pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Depreciation and amortization &#185;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">196</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">127</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6%</font></p>
</td>
</tr>
<tr style="height: 5.65pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;">Adjusted EBITDA</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;"> from continuing operations</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">965</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">7</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">3%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">629</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">4%</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">13%</font></p>
</td>
</tr>
<tr style="height: 36.35pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.3pt; text-decoration: underline;">Adjusted EBITDA from discontinued operations</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">738</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">6</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">849</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">0</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: 0.15pt; text-decoration: underline;">-13%</font></p>
</td>
</tr>
<tr style="height: 14.15pt;">
<td style="vertical-align: middle; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;">Adjusted EBITDA</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;"> (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">704</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">3</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">478</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">5</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">6%</font></p>
</td>
</tr>
<tr style="height: 1pt;">
<td style="vertical-align: top; width: 127.6pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 47.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.4pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; Includes amortization of contractual assets with clients &#8211; exclusive rights</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA &#8211; Earnings Before Interest, Taxes, Depreciation and Amortization; Adjusted EBITDA &#8211; adjusted for amortization of contractual assets with customers - exclusive rights and results of cash flow hedge from bonds; and EBIT &#8211; Earnings Before Interest and Taxes, are presented in accordance with CVM Instruction 527, issued by CVM on October 4, 2012. The calculation of Adjusted </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> from net income is shown below:</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 231px; width: 100%;" width="100%">

<tr style="height: 34px;">
<td style="vertical-align: top; width: 162.65pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 6.5pt 0pt 0pt 1.85pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021 (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="line-height: 7.25pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net Income</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">883.9</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">818.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">927.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">647.1</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: middle; width: 162.65pt; height: 10px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Income tax and social contribution</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">74.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">188.0</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">571.4</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">304.5</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Net financial revenue (expense)</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">909.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">762.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">269.4</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">550.3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Depreciation and amortization</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,377.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">913.8</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,267.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">838.2</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">EBITDA</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,245.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,683.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,035.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,340.1</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Adjustments</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;"><br></td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: middle; width: 162.65pt; height: 34px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Amortization of contractual assets with clients &#8211; exclusive rights (Ipiranga) </font></p>
</td>
<td style="width: 62.65pt; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">281.0</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; text-align: center; text-indent: 0px; color: #000000;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">281.0</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">287.8</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">287.8</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="vertical-align: middle; width: 162.65pt; height: 34px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Amortization of contractual assets with clients &#8211; exclusive rights (Ultragaz) </font></p>
</td>
<td style="width: 62.65pt; height: 34px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.5</font><br></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; text-align: center; text-indent: 0px; color: #000000;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.5</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.6</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash flow hedge</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (bonds)</font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">176.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">153.5</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 162.65pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Adjusted EBITDA </font></p>
</td>
<td style="vertical-align: top; width: 62.65pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,704.3</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,965.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,478.5</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,629.6</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The purpose of including Adjusted EBITDA information is to provide a measure used by the management for internal assessment of our operating results, besides being a directly or indirectly related measure to a portion of our employee profit sharing plan. It is also a financial indicator widely used by investors and analysts to measure our </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ability</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to generate cash from operations and our operating performance. We believe Adjusted EBITDA allows a better understanding not only of our financial performance but also of our capacity of meeting the payment of interest and principal from our debt and of obtaining resources for our investments and working capital. Our definition of Adjusted EBITDA may differ from similarly titled measures used by other companies, and may not be comparable, thereby limiting its usefulness as a comparative measure. Because Adjusted EBITDA excludes net financial expenses (income), income tax and social contribution and depreciation and amortization, it provides an indicator of general economic performance that is not affected by debt restructurings, fluctuations in interest rates or changes in income and social contribution taxes, depreciation and amortization. Adjusted EBITDA is not a measure of financial performance under accounting practices adopted in Brazil or IFRS. Adjusted EBITDA should not be considered in isolation, or as a substitute for net income, as a measure of operating performance, as a substitute for cash flows from operations or as a measure of liquidity. Adjusted EBITDA has material limitations that impair its value as a measure of a company&#8217;s overall profitability since it does not address certain ongoing costs of our business that could significantly affect profitability such as financial expenses, income taxes and depreciation and amortization.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Overview of sales volume </font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 9.6pt;">
<td style="vertical-align: top; width: 116pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 66pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -4.85pt;">&#8710;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 2.65pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.15pt;">(%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">- </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.25pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.25pt;">20</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz (000 tons)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">714</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">732</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-1%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo (000 m&#179;)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">545</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">244</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno (000 tons)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">779</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">753</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga (000 m&#179;)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">477</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">461</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
</tr>
<tr style="height: 9.55pt;">
<td style="vertical-align: top; width: 116pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma (stores at yearend)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">399</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">405</font></p>
</td>
<td style="vertical-align: middle; width: 66pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-1%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The volume sold by Ultragaz fell by 1% in 2021, mainly because of the 4% decrease of sales in the bottled segment due to lower demand growth for LPG bottles, reflecting stronger social isolation in 2020. In the bulk segment, volumes increased 5%, with higher sales to industries, commercial and services segments, which were more affected by the pandemic in 2020.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The cubic meter sold</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> by Ultracargo</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> increased 2%, because of greater fuel handling in Itaqui, due to the expansions of tankage capacity, partially offset by lower fuel handling in Santos, resulting from lower imports.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno&#8217;s sales volume increased 3% in 2021, with a growth of 8% in specialty chemicals, driven by higher sales mainly to crop solutions and coatings segments, in addition to higher sales in the United States (plant ramp-up). The volume of commodities decreased 17% compared to 2020, due to the prioritization of specialties in the product mix and lower market demand.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sales volume at Ipiranga increased 5% in 2021, due to the greater effects of the pandemic on fuel consumption in Brazil in 2020, with a growth of 3% in Otto cycle and 6% in diesel.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma closed 6 drugstores in 2021 and ended the year with 399 pharmacies, a reduction of 1% in its network. At the end of the year, maturing stores (with up to three years of operation) represented 12% of the network, as a result of greater selectivity in expansion and a more rigorous approach to underperforming stores.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Net revenues</font></p>
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<p style="line-height: 8.25pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 34px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710;(%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> - 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">744</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">408</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">32%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">713</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">644</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">99</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">382</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">66</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">133</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">50%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237; </font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">84</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">392%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others / Eliminations</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">192</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">144</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">33%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar </font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">109</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">732</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">74</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">058</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">48%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Discontinued operations</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">065</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">183</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26%</font></p>
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<td style="vertical-align: top; width: 106.1pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar (pro forma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> view</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
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<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">118</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">798</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">81</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">241</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
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<td style="vertical-align: middle; width: 63.75pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">46%</font></p>
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<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar recorded net revenue from sales and services of R$ 109,732.8 million in 2021, an increase of 48% compared to 2020, reflecting higher revenue in all businesses, especially Ipiranga. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forma view), net revenue was R$ 118,798.6 million, an increase of 46% </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in relation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to 2020.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz&#8217;s n</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">et revenues rose 32% in 2021, because of LPG costs increases.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ultracargo, n</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">et revenues rose 11% in 2021, due to contractual readjustments, greater handling and better mix of products and terminals.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net revenues at Ipiranga increased 50%, because of the increase in the average costs of products derived from oil and ethanol, in addition to higher sales volume. <font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The net revenue of abastece a&#237; was R$ 84.7 million, an increase of R$ 67.5 million in relation to the previous year, mainly due to the high number of transactions in Ipiranga filling stations.<font style="mso-spacerun: yes;">&nbsp; </font>The net revenue from discontinued operations increased 26% in 2021.</font> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Cost of goods and services sold</font></p>
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<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 2.2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
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<td style="vertical-align: middle; width: 56.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<td style="vertical-align: middle; width: 56.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> - 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font></p>
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<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">626</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">310</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">37%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">285</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">270</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">96</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">110</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">63</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">609</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">51%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; width: 93.55pt; height: 10px;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other / Eliminations</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">194</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">133</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 10px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">104</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">828</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">70</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">056</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">50%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; height: 17px;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Discontinued operations</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">901</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">571</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">24%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 93.55pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar (pro forma vision)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">111</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">729</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">628</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 0pt 0pt 18pt; orphans: 0; text-align: center; text-indent: -18pt; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">48%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's cost of goods and services was R$ 104,828.0 million in 2021, an increase of 50% compared to 2020, due to the increase in costs in all businesses. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forma view), the cost of goods and services was R$ 111,729.1 million, an increase of 48% compared to 2020.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The cost of goods sold</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> by Ultragaz</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> increased 37%, due to the increases of LPG and fuels costs in addition to the effects of inflation on production materials.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> At Ultracargo, t</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">he cost of services provided rose 6%, mainly due to the higher depreciation, resulting from expanded tankage capacity, and leasing readjustments.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The cost of goods sold</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> by Ipiranga</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> increased by 51%, for the same reasons that affected the net revenues.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The cost of goods sold and services rendered from discontinued operations increased by 24% compared to 2020.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Gross profit</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar posted gross profit of R$ 4,904.9 million in 2021, a growth of 23% compared to 2020, as a result of the increase in gross profit in all continuing operations. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forma view), gross profit was R$ 7,069.5, up 26% </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in relation to</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2020.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">General, administrative, sales and commercial expenses </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 14.4pt;">
<td style="vertical-align: middle; width: 93.55pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 2.2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1 - 2020</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">661</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">620</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7%</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">136</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">129</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">232</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">707</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">31%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">184</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">70</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">163%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other / Eliminations</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">183</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">77</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">138%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">398</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">605</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">30%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Discontinued operations</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">664</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">493</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar (pro forma vision)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">062</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">098</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">24%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar recorded general, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> expenses of R$ 3,398.2 million in 2021, an increase of 30% compared to 2020, due to the increase in expenses in all continuing operations. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forma view), general, administrative, sales and commercial expenses amounted to R$ 5,062.2 million, an increase of 24% compared to 2020.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ultragaz, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">general, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> expenses increased 7% in the year, due to higher expenses with personnel, freight, and commercial rebates, partially offset by lower expenses with consultancies and initiatives to reduce expenses in several lines.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">G</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">eneral, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">expenses increased 5% in the year</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> at Ultracargo</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, due to higher personnel expenses (mainly variable compensation, in line with the progression of results) and information technology and engineering to support expansion projects, productivity gains and digital transformation.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ipiranga, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">general, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">expenses rose 31%, mainly due to higher provisions for contingencies, higher expenses on AmPm&#8217;s company-operated stores, Iconic (higher sales volume and commercial rebates) and freight (higher sales volume and increase in unit cost), in addition to the expense saving in several fronts in 2020.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">G</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">eneral, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">expenses were R$ 184.9 million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> at abastece a&#237;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, an increase of R$ 114.6 million, due to higher expenses with personnel, development and marketing to increase the use of the application and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">loyalty program</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">G</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">eneral, administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales and commercial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">expenses </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">from discontinued operations increased 11% compared to last year.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Depreciation and amortization</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total depreciation and amortization costs and expenses in 2021 amounted R$ 1,196.4 million, up 6% in relation to 2020, because of investments made over the period. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the total was R$ 1,659.8 million, an increase of 7% compared to 2020.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Other operating income</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reported a net operating revenue of R$ 96.2 million in 2021, an increase of 50% in relation to 2020, resulting from the higher constitution of extemporaneous tax credits and the increased revenue with suppliers' merchandise items at Ipiranga, partially offset by the higher costs related to Renovabio's goals.&nbsp;&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), Ultrapar's net operating revenue totaled R$ 123.0 million, a decrease of 44% in relation to 2020. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Income from disposal of assets</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The R$ 98.7 million increase in the income from the disposal of assets line is mainly due to the capital gains from the sale of ConnectCar for R$ 76 million and a higher sale of lands, both concerning Ipiranga's properties.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the income from disposal of assets increased R$ 107.0 million in relation to 2020. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Operating profit</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reported an operating profit of R$ 1,787.0 million in 2021, 16% higher in comparison to 2020, due to the informed above.&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), the operating profit totaled R$ 1,885.9 million, an increase of 4% in relation to 2020.&nbsp;&nbsp; </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial income</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reported net financial expenses amounting to R$ 762.7 million in 2021, 39% higher in comparison to 2020, mainly due to the negative results of the mark-to-market position on the foreign exchange hedging and the higher cost of the debts because the interest rates increased. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), Ultrapar reported net financial expenses of R$ 909.7 million, a decrease of R$ 640.3 million. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Net income</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's net income was R$ 818.6 million in 2021, an increase of 27% in relation to what was recorded in 2020, mainly due to the higher EBITDA and less taxes, partially offset by the increase in the depreciation and net financial expenses. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), Ultrapar's net income reached R$ 883.9 million in 2021, a decrease of 5% in relation to what was recorded in 2020, mainly due to Extrafarma's impairment.&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Adjusted EBITDA</font></p>
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<tr style="height: 12.65pt;">
<td style="vertical-align: top; width: 96.75pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 1.9pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Re</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">ported</font></p>
<p style="margin: 0pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">R$ million</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">)</font></p>
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<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
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<td style="vertical-align: middle; width: 57pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021 - 2020</font></p>
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<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">396</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">337</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">086</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">711</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">22%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237;</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(80</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(41</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">93%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Holding </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and others</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(177</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(127</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">39%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Elimina</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tions</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-42%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar </font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">965</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">629</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">103</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">784</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">41%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(353</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">84</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Eliminations</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-42%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">pro forma view)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">704</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">478</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 12.65pt;">
<td style="vertical-align: top; width: 96.75pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 1.9pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Rec</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">urring</font></p>
<p style="margin: 0pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">(<font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$ million</font>)</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 57pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021 - 2020</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">396</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">325</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">22%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">010</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">711</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237;</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(80</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(41</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">93%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Holding </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and others</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(177</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(127</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">39%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Elimina</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tions</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-42%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar </font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">889</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.2</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">617</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">103</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">629</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">75%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">74</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">84</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-12%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Eliminations</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2)</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-42%</font></p>
</td>
</tr>
<tr style="height: 4pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">pro forma view)</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">055</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">311</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For better comparability between 2021 and 2020 results and an analysis of the performance of Ultrapar and the businesses, we have excluded the following non-recurring effects: in 2020, the extemporaneous tax credits of Oxiteno and Ultracargo, respectively R$ 155.7 million and R$ 11.7 million; and in 2021, the Extrafarma's impairment of R$ 427.5 million and the capital gains from the sale of ConectCar, for R$ 76.5 million at Ipiranga.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar's Adjusted EBITDA reached R$2,965.7 million in 2021, a 13% growth compared to 2020. If we exclude the non-recurring items mentioned above, Ultrapar's Adjusted EBITDA was R$2,889.2 million, an increase of 10%. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">compared</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to 2020. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Adjusted </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA amounted to R$ 729.3 million in 2021, a similar level compared to the previous year, mainly due to initiatives for reducing expenses, despite strong inflation throughout the year and lower sales volume.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo registered a record EBITDA level of R$ 396.0 million in 2021 (+17%). Excluding the effect of the extraordinary PIS/Cofins tax credits of R$ 12 million in 2020, recurring EBITDA growth in the annual comparison was 22%, as a result of expansions in capacity with profitability gains, contractual readjustments and productivity gains.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga&#8217;s EBITDA amounted to R$ 2,086.7 million in 2021 (+22%). Excluding the effect of the capital gain from ConectCar&#8217;s sale, the growth of recurring EBITDA was 17%, due to higher sales volume, improvement on margins, higher results in the other operating results line and higher results from the disposal of property, attenuated by higher expenses.</font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Abastece a&#237; recorded a negative EBITDA of R$ 80.4 million, R$ 38.7 million worse than in 2020, due to higher expenses with personnel, development and marketing to reach out more people to use the app and subscribe to the loyalty program. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Excluding the non-recurring effects mentioned above, the EBITDA from the discontinued operations totaled R$ 1,166.1 million, an increase of 68% in relation to 2020. </font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering both continuing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and discontinued operations (pro forma view), Ultrapar's Adjusted EBITDA reached R$ 3,704.3, an increase of 6% in relation to 2020.&nbsp;&nbsp; Excluding the non-recurring effects mentioned above, Ultrapar's Adjusted EBITDA totaled R$ 4,055.3 million, an increase of 22% in relation to 2020.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 107%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main change in the consolidated income statements for the fiscal year ending December 31, 2020 compared to the fiscal year ending December 31, 2019</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 408px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 90%;" width="90%">

<tr style="height: 51px;">
<td style="vertical-align: top; width: 34.5588%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year ending December 31, 2020</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% <b style="mso-bidi-font-weight: normal;"><font style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: PT-BR; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">net revenue from sales and services</font></b> </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year ending December 31, 2019</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% <b style="mso-bidi-font-weight: normal;"><font style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin; mso-ansi-language: PT-BR; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">net revenue from sales and services</font></b> </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 51px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710;(%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 vs. 2019</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net revenue from sales and services</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">81,241.1</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">89,298.0</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-9%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cost of goods and services </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">sold</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(75,628.2)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">93%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(83,187.1)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">93%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-9%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Gross profit</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5,612.9</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6,110.9</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">-8%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">General, administrative, sales, and commercial expenses </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(4,098.4)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(4,366.6)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-6%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other operating results, net</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">221.4</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">179.6</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Proceeds from the disposal of assets</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">76.1</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(30.0)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Impairment </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(593.3)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Operating income</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1,812.1</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1,300.6</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">39%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial results</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(269.4)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(506.9)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-47%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Equity income</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(43.6)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(12.1)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">259%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Income tax and social contribution</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(571.4)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(378.6)</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">51%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net income</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">927.7</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">402.9</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">130%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net income attributable to </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shareholders of Ultrapar</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">893.4</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">373.5</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">139%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-controlling shareholders of subsidiaries </font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.3</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">29.4</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;"><br></td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Depreciation and amortization &#185;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,556.6</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,500.0</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.3pt; text-decoration: underline;">Adjusted EBITDA</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">3,478.5</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">4%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">2,800.3</font></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">3%</font></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt; text-decoration: underline;">24%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 34.5588%; height: 17px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 12.9902%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; width: 13.1127%; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.4pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; Includes amortization of contractual assets with clients &#8211; exclusive rights</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA &#8211; Earnings Before Interest, Taxes, Depreciation and Amortization; Adjusted EBITDA &#8211; adjusted for amortization of contractual assets with customers - exclusive rights and results of cash flow hedge from bonds; and EBIT &#8211; Earnings Before Interest and Taxes, are presented in accordance with CVM Instruction</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">527, issued by CVM on October 4, 2012. The calculation of Adjusted </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> from net </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">income </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">is shown below:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.35pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 90%;" width="90%">

<tr style="height: 23.45pt;">
<td style="vertical-align: top; width: 162.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 6.5pt 0pt 0pt 1.85pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710;(%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 vs 2019</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="line-height: 7.25pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net Income</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">927.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">402.9</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">130%</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="line-height: 7.25pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Income tax and social contribution</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">571.4</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">378.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="line-height: 7.25pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Net financial revenue (expense)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">269.4</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">506.9</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Depreciation and amortization</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,267.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,144.7</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">EBITDA</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,035.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,433.1</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">25%</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="line-height: 6.9pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Adjustments</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Amortization of contractual assets with clients &#8211; exclusive rights </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">(Ipiranga) </font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">287.8</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">355.1</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) Amortization of contractual assets with clients &#8211; exclusive rights (Ultragaz) </font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.6</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.2</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt;">
<p style="line-height: 6.9pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(+) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash flow hedge</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (bonds)</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">153.5</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11.9</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 11.35pt;">
<td style="vertical-align: middle; width: 162.65pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 6.6pt; margin: 0pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Adjusted EBITDA </font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,478.5</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,800.3</font></p>
</td>
<td style="vertical-align: middle; width: 62.65pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">24%</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The purpose of including Adjusted EBITDA information is to provide a measure used by the management for internal assessment of our operating results, besides being a directly or indirectly related measure to a portion of our employee profit sharing plan. It is also a financial indicator widely used by investors and analysts to measure our </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ability</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to generate cash from operations and our operating performance. We believe Adjusted EBITDA allows a better understanding not only of our financial performance but also of our capacity of meeting the payment of interest and principal from our debt and of obtaining resources for our investments and working capital. Our definition of Adjusted EBITDA may differ from similarly titled measures used by other companies, and may not be comparable, thereby limiting its usefulness as a comparative measure. Because Adjusted EBITDA excludes net financial expenses (income), income tax and social contribution and depreciation and amortization, it provides an indicator of general economic performance that is not affected by debt restructurings, fluctuations in interest rates or changes in income and social contribution taxes, depreciation and amortization. Adjusted EBITDA is not a measure of financial performance under accounting practices adopted in Brazil or IFRS. Adjusted EBITDA should not be considered in isolation, or as a substitute for net income, as a measure of operating performance, as a substitute for cash flows from operations or as a measure of liquidity. Adjusted EBITDA has material limitations that impair its value as a measure of a company&#8217;s overall profitability since it does not address certain ongoing costs of our business that could significantly affect profitability such as financial expenses, income taxes and depreciation and amortization.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Overview of sales volume </font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 9.6pt;">
<td style="vertical-align: top; width: 116pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: middle; width: 66pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -4.85pt;">&#8710;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 2.65pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.15pt;">(%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.15pt;">2020 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">- </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: 0.25pt;">2019</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> tons)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,732</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,706</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">m&#179;)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12,244</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10,779</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> tons)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">753</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">734</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
</tr>
<tr style="height: 11.25pt;">
<td style="vertical-align: top; width: 116pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> m&#179;)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21,461</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23,494</font></p>
</td>
<td style="vertical-align: middle; width: 66pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-9%</font></p>
</td>
</tr>
<tr style="height: 9.55pt;">
<td style="vertical-align: top; width: 116pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma (stores at yearend)</font></p>
</td>
<td style="vertical-align: middle; width: 78.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">405</font></p>
</td>
<td style="vertical-align: middle; width: 53.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">416</font></p>
</td>
<td style="vertical-align: middle; width: 66pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sales volume at Ultragaz was up 2% in 2020, reflecting market growth in the period. In the bottled segment, volume was up 2% because of increased household consumption, which was boosted by pandemic-related restrictions. In the bulk segment, volume remained steady, with increased industrial and special gases (propellants) sales, mitigated by a reduced volume of sales to retail and services, which were hit hardest by pandemic-related isolation measures. Ultracargo&#8217;s cubic </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">meters sold was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> up 14%, due to capacity expansions at Santos and Itaqui in 2H19 and 1H20 and to improved efficiency using the existing tankage. Oxiteno&#8217;s sales volume was up 3% in 2020. Specialty chemicals volume was up 6%, due to strong sales to the hygiene &amp; cleaning and agribusiness segments on the domestic front, increased sales in the United States, and increased exports. The commodities volume was down 10% YoY, due to reduced market demand.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Ipiranga&#8217;s sales volume was down 9% in 2020 because of the effects of the coronavirus pandemic, which had a material impact on fuels consumption in Brazil, particularly in the second quarter of 2020, with a gradual recovery since then. For additional information on the pandemic, see &#8220;Item 10.9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Comments on other material facts affecting operating performance&#8221;.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> The Otto cycle, which was the hardest hit segment, was down 14% in the fiscal year, whereas Diesel was down 3%. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma opened 2 new stores and closed down 13 in 2020, a 3% reduction to the chain, which reached yearend at 405 stores. At yearend, maturing </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">stores (those in operation for up to three years) represented 25% of the chain, due to more selective expansion and increased strictness regarding poorly performing stores.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Net revenues</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%; height: 119px;" width="80%">

<tr style="height: 34px;">
<td style="vertical-align: middle; width: 106.1pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="line-height: 8.25pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710;(%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 - 2019</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,408.3</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,094.8</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">644.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">540.8</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5,210.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,254.2</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">22%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 106.1pt; height: 17px;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">66,133.0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">75,452.5</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-12%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 106.1pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma&#185;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,106.4</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,174.2</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 59.9pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; Gross revenue</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar reported net revenues from sales and services of R$ 81,241</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, down 9% from 2019, due mainly to decreasing revenues at Ipiranga. Net revenues at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz were up 4%, due mainly to the increased sales volume and LPG price adjustments on the part of Petrobras. Ultracargo&#8217;s net revenues were up 19%, boosted by increased fuels handling because of expansions and spot handling jobs, as well as higher fees arising from contract readjustments. At Oxiteno, net revenues were up 22%, due to the average 31% depreciation of the Brazilian Real (R$ 1.21/US$) and increased sales volume, partially offset by the 6% decrease in average US Dollar-denominated prices, following the drop in the international prices of petrochemicals. Ipiranga&#8217;s net revenues were down 12%, due mainly to the reduced sales volume and shifts in average fuel prices. Gross revenues at Extrafarma were down 3%, due to the smaller number of stores (-3%) and the temporary closing of 7% of shopping-mall stores in some months of the year and reduced customer flow because of the pandemic. These effects were mitigated by increased sales at the same stores while operational (+4%), driven by the increased average ticket and the reinforcement and expansion of online channel sales.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Cost of goods and services </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">sold</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 14.4pt;">
<td style="vertical-align: middle; width: 93.55pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 2.2pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 - 2019</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6,310.2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6,105.0</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">270.0</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">261.0</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,188.7</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,537.6</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">18%</font></p>
</td>
</tr>
<tr style="height: 11.2pt;">
<td style="vertical-align: top; width: 93.55pt;">
<p style="margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">63,609.9</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">71,962.7</font></p>
</td>
<td style="vertical-align: middle; width: 51pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-12%</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="vertical-align: top; width: 93.55pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.5pt; margin: 0.05pt 0pt 0pt 2.2pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,399.1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,462.3</font></p>
</td>
<td style="vertical-align: middle; width: 51pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-4%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#180;s cost of goods and services sold was R$ 75,628</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, down 9% from 2019 because of reduced costs at Ipiranga and Extrafarma. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz&#8217;s cost of goods sold was up 3% because of the increased sales volume and LPG cost readjustments on the part of Petrobras, in addition of increased freight expenses because of the need to collect LPG in more remote supply points and of increased storage costs. The cost of services provided at Ultracargo was up 3% because of YoY capacity increases. At Oxiteno, the cost of goods sold was up 18% because of the average 31% depreciation of the Brazilian Real (R$ 1.21/US$) and increased sales volume, partially offset by the 12% decrease in average unit costs in US Dollars. Ipiranga&#8217;s cost of goods sold was down 12% because of the smaller sales volume (as a result of the pandemic) and of shifts in average fuel prices. The cost of goods sold at Extrafarma was down 4% due mainly to reduced sales.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Gross profit</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar recognized R$ 5,61</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in gross profit in 2020, down 8% from 2019, because of Ipiranga&#8217;s decreased gross profit stemming from the reasons discussed above.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">General, administrative, sales and commercial expenses </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 14.35pt;">
<td style="vertical-align: middle; width: 109.05pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.3pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.3pt; margin: 0pt 5.75pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="line-height: 9.3pt; margin: 0pt 5.75pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.3pt; margin: 0pt 5.75pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
<p style="line-height: 9.3pt; margin: 0pt 5.75pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%) </font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 - 2019</font></p>
</td>
</tr>
<tr style="height: 10.9pt;">
<td style="vertical-align: top; width: 109.05pt;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">620.2</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">636.5</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3%</font></p>
</td>
</tr>
<tr style="height: 10.9pt;">
<td style="vertical-align: top; width: 109.05pt;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">129.9</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">133.4</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3%</font></p>
</td>
</tr>
<tr style="height: 10.9pt;">
<td style="vertical-align: top; width: 109.05pt;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">819.6</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">724.2</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13%</font></p>
</td>
</tr>
<tr style="height: 10.9pt;">
<td style="vertical-align: top; width: 109.05pt;">
<p style="line-height: 9.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,707.7</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,002.1</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-15%</font></p>
</td>
</tr>
<tr style="height: 9.6pt;">
<td style="vertical-align: top; width: 109.05pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.6pt; margin: 0pt 0pt 0pt 2.15pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">653.6</font></p>
</td>
<td style="vertical-align: middle; width: 53.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">738.5</font></p>
</td>
<td style="vertical-align: middle; width: 64.2pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-11%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar recognized general, administrative, selling and commercial expenses of R$ 4,098</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, down 6% from 2019, due to reduced expenses at Ultragaz, Ultracargo, Ipiranga and Extrafarma. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ultragaz, general, administrative and selling expenses were down 3%. Despite the increase on freight expenses as a result of increased volume and inflation, and higher expenses with consulting for operational efficiency gains, Ultragaz adopted several initiatives to reduce expenses, particularly as concerns the payroll line, in addition to reduced materials expenses and reduced provisions for doubtful accounts. Utracargo&#8217;s general, administrative and selling expenses were down 3% because of reduced payroll expenses, mitigated by increased spending on information systems to strengthen the technology platform, and conceptual engineering plans for expansion studies. At Oxiteno, general, administrative and selling expenses were up 13% because of increased freight spending (increased volume and exchange rate effect on overseas freight), the effect of foreign exchange variations on the expenses of international units, and expense-reduction efforts. Ipiranga&#8217;s general, administrative and selling expenses were down 15%, due mainly to reduced payroll and freight spending (lower sales volume), and smaller provisions for doubtful accounts and withholding expenses on several fronts. Extrafarma&#8217;s general, administrative and selling expenses were down 11%, reflecting the reduced number of stores and initiatives in the areas of expense withholding, productivity gains, and logistics optimization.&nbsp;&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Depreciation and amortization</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total costs and expenses with depreciation and amortization in 2020 were R$ 1,55</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, up 4% from 2019 because of investments made over the period and increased software amortization</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Other operating income</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar recognized net operating income of R$ 221</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, up 23% from 2019, reflecting the constitution of tax credits at </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno and Ultracargo in 2020. This was partly offset by the appropriation of costs associated with Renovabio targets at Ipiranga in the same period. In addition, 2019 had the Consent Decree recognition at Ultracargo and tax credits at Extrafarma. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Income from the disposal of assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The R$ 106</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million increase in the income from the disposal of assets line is mainly due to the sale of Ipiranga real estates in 2020, the pruning of Extrafarma stores, and the write-off of Oxiteno Andina assets in 2019. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Impairment</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The R$ 593</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million entry on this line in 2019 concerns impairment associated with the Extrafarma goodwill acquisition premium.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Operating income</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar posted R$ 1,812</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in operating income in 2020, up 39% from 2019,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> due mainly to the 2019 recognition of impairment at Extrafarma.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial results</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s financial results were a net expense of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 269</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, down 47% from 2019 due mainly to the appropriation of interest on non-recurring tax credits in the amount of R$ 238</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million that year.&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Net income for the fiscal year</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s consolidated net income was R$ 92</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, up 130% from 2019, due mainly to the period&#8217;s increased EBITDA and reduced financial expenses, partially offset by higher taxes and higher depreciation and amortization costs and expenses.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Adjusted EBITDA</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 12.65pt;">
<td style="vertical-align: top; width: 96.75pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.45pt; margin: 0pt 0pt 0pt 1.9pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;&nbsp; Reported</font></p>
<p style="line-height: 8.45pt; margin: 0pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 57pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 - 2019</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729.1</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">586.7</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">24%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">337.5</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">164.8</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">105%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">784.9</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">221.6</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">254%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,711.7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,486.6</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-31%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.25pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">84.3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(565.9)</font></p>
</td>
<td style="vertical-align: top; width: 57pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0.05pt 38.25pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 12.65pt;">
<td style="vertical-align: top; width: 96.75pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.45pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> Ex- non-recurring</font></p>
<p style="line-height: 8.45pt; margin: 0pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;&nbsp; (R$ million)</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 47.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">IFRS 16</font></p>
</td>
<td style="vertical-align: middle; width: 57pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8710; (%)</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020 - 2019</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultragaz</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">729.1</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">586.7</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">24%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">325.7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">230.4</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">41%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">629.2</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">235.6</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">167%</font></p>
</td>
</tr>
<tr style="height: 9.65pt;">
<td style="vertical-align: middle; width: 96.75pt;">
<p style="line-height: 8.45pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,711.7</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2,486.6</font></p>
</td>
<td style="vertical-align: top; width: 57pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-31%</font></p>
</td>
</tr>
<tr style="height: 8.45pt;">
<td style="vertical-align: middle; width: 96.75pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.25pt; margin: 0.2pt 0pt 0pt 1.9pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">84.3</font></p>
</td>
<td style="vertical-align: top; width: 47.15pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">27.4</font></p>
</td>
<td style="vertical-align: top; width: 57pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">208%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For better comparability between 2020 and 2019 results and an analysis of the effective performance of Ultrapar and its businesses, we have excluded the following non-recurring effects: in 2019, the impairment of Extrafarma, in the amount of R$ 593</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million; the Consent Decree at Ultracargo, in the amount of R$ 6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million; and the write-off of Oxiteno Andina assets in the amount of R$ 14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million; and, in 2020, tax credits in the amount of R$ 15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million and R$ 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million at Oxiteno and at Ultracargo, respectively.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s adjusted EBITDA was R$ 3,47</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in 2020, up 24% from 2019. Ex- the non-recurring effects above, Ultrapar&#8217;s Adjusted EBITDA would have been R$ 3,311</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, down 5% from 2019. Ultragaz&#8217;s EBITDA set a new record, totaling R$ 729</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, up 24%, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">due</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> mainly to the increased sales volume, improved operating efficiency, and reduced expenses. Ultracargo&#8217;s EBITDA also set a new record, at R$ 337</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, up 41% ex the effects named above, due to capacity expansions and efficiency gains at the terminals, contract readjustments, and productivity gains. Oxiteno was the third business to post new record EBITDA levels, at R$ 78</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, up 167%, ex non-recurring effects, due mainly to (i) increased sales volume, (ii) improved US Dollar-denominated contribution margins, (iii) ramp-up of the US Plant, and (iv) average 31% depreciation of the Brazilian Real (R$ 1.21/US$). Ipiranga&#8217;s EBITDA was R$ 1,71</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, down 31% because of the lower sales volume and narrower margins, aggravated by oscillating fuel costs and the reduction in other operating results. Extrafarma&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">EBITDA was R$ 84</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million, up a sharp 208% ex the 2019 impairment, due to (i) the maturity of chain elements in the past 3 years, (ii) the pruning process and improved return on the chain, (iii) improved margins; and (iv) initiatives for productivity gains and expenses reduction.</font></p>
</div>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<div>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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</table>
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</div>
<div style="width: 8.5in; margin: 0 auto;">
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.2 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Comments on</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">:</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">a.&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company&#8217;s operating results, especially:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.35pt 0pt 0pt 28.35pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 3.2pt 0pt 0pt 42.55pt; orphans: 0; text-align: justify; text-indent: -15.6pt; widows: 0;"><font style="font-family: Calibri; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;">i.&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">description of major components of revenues</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Over the past three years, more than 90% of consolidated net revenues of Ultrapar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> generated by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga an Ultragaz</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Therefore, the main components of these revenues come from diesel, gasoli</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ne, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ethan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ol </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">an</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">d </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">LPG sales. See &#8220;Item 10.2.c. Effect of inflation, changes in prices of main inputs and products, foreign exchange and interest rates on the Company&#8217;s operating results and financial results&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 5.85pt 0pt 0pt 42.55pt; orphans: 0; text-align: justify; text-indent: -17.85pt; widows: 0;"><font style="font-family: Calibri; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;">ii.&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">factors that materially affected operating results</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.1.h. Main changes in each item of the financial statements &#8211; Main changes in consolidated income statement&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">b.&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Changes in revenues attributable to changes in prices, exchange rates, inflation, changes in volumes and introduction of new products and services </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.1.h. Main changes in each item of the financial statements &#8211; Main changes in consolidated income statement&#8221; and See &#8220;Item 10.2.c. Effect of inflation, changes in prices of main inputs and products, foreign exchange and interest rates on the Company&#8217;s operating results and financial results&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8.45pt 0pt 0pt 21.3pt; orphans: 0; text-align: justify; text-indent: -14.2pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">c.&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Effect of inflation, changes in prices of main inputs and products, foreign exchange and interest rates on the Company&#8217;s operating results and financial results, if relevant</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 7.7pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">LPG business</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In recent years, Petrobras&#8217; practice was not to immediately reflect volatility of international prices of oil and its derivatives in the Brazilian market. However, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">June 2017, the dynamic of LPG prices supplied to distributors was modified to reflect international price volatility and exchange rate variation. To smooth out the peaks and troughs in international prices, in January 2018, the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">LPG </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">pricing dynamic was adjusted. The determination period for international prices and exchange rates, which define adjustment percentages, was set as the average of the 12 preceding months,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">no more the monthly variation,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and price changes became quarterly. The pricing policy for residential use was terminated in August 2019. No formal LPG pricing policy exists for commercial, industrial or residential use.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">With the coronavirus pandemic, just like many other commodities, the LPG prices have been subject to a higher volatility as well.&nbsp;&nbsp; The domestic price of the LPG was affected by this volatility as Petrobras started adjusting it based on the international prices &#8212; which have become higher &#8212;, reasserting the PPI (international parity price) policy. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">LPG prices for bottled and bulk segments were historically different. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In November 2019, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">this differentiation was extinguished, and, therefore, national prices of both segments were converted into a single price.</font></p>
</div>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
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</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The table below shows the monthly adjustments for LPG for residential and commercial/industrial use for the last three years:</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="height: 317px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%; text-indent: 0px;" width="80%" border="0.5pt solid rgb(0, 0, 0)">

<tr style="height: 17px;">
<td style="padding: 0px; vertical-align: middle; width: 17.7696%; margin: 0px; text-indent: 0px; text-align: center; height: 17px; border: 1pt solid #000000;" colspan="3"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%<font>&nbsp;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Petrobras<font>&nbsp;</font>prices readjustments</font></td>
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<tr style="height: 40px;">
<td style="padding: 0px; vertical-align: middle; width: 17.7696%; height: 40px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Dat</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">e</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 40.6863%; height: 40px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Residen</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">t</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ial</font></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 41.4216%; height: 40px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Com</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">m</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ercial </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">and</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> Industrial</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jan-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3.4%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fe</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-3.0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mar-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">p</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">r-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6.0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">y</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jul-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-9.8%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ug</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2%</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-13.5%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">O</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ct</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Nov-19</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 40.6863%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 41.4216%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.6%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">De</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-19</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fe</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mar-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> -5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0% and -10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">y</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jun-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3% and 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jul-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ug</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0% and 5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">O</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ct</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Nov-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">De</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-20</font></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
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<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jan/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fe</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mar/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">p</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">r/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jun/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Jul/21</font></p>
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<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<td style="padding: 0px; vertical-align: top; width: 17.7696%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">O</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">t/21</font></p>
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<td colspan="2" style="padding: 0px; vertical-align: top; width: 82.1079%; height: 10px; margin: 0px; text-indent: 0px; border: 1pt solid #000000;">
<p style="margin: 0px; break-after: avoid; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8pt 0pt 8pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Chemical and petrochemical business</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The specialty chemicals volume in the Brazilian market correlates with economic performance. Therefore the Brazil GDP growth pace may influence sales volumes as specialty chemicals sales from Oxiteno in Brazil represent </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">58</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% of the total volume sold by Oxiteno in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. In Brazilian market growth periods, Oxiteno aims to (i) increase its domestic market sales, as the logistics costs are generally lower than for exports, and (ii) increase its sales of specialty chemicals, with higher value added than commodities. In </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, sales of specialty chemicals represented </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">86</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% of the total volume, versus </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">83</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A significant portion of Oxiteno&#8217;s prices and variable costs of the products are linked to U.S. dollar. Therefore, a sharp appreciation or depreciation of the U.S. dollar c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">an</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> have an impact on Oxiteno&#8217;s contribution margin in the future. Brazilian Real lost 4%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 29% and 7%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> against the US Dollar,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in 2019, 2020 and 2021,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> respectively. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">We cannot predict what will be the exchange rate trend in the future.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno&#8217;s main raw material is ethylene, which is produced from naphtha in Brazil. Generally, naphtha prices in Brazil fluctuate with oil prices. In </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">oil prices ended at US$ 78/barrel, up 50% in relation to 2020. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2020, oil ended at US$ 52/barrel, down </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% from 2019. We cannot predict if oil end ethylene prices will remain on the same trends. A sharp change in ethylene prices would affect Oxiteno&#8217;s results if the company is unable to maintain operating margins. Oxiteno&#8217;s second most relevant raw material is palm kernel oil</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, palm kernel oil ended up the year at US$ 2.172 / ton, increase of 73% in relation to 2020. In 2020, the increase was 67%, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and the price was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> US$ 753/ton in December 2019 to US$ 1,255/ton in December 2020.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> demand for chemicals and petrochemicals in Brazil was up </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20% in 2021, after an increase of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">11% in 2020, according to ABIQUIM apparent consumption data. As a consequence, an increase in the consumption of chemicals and petrochemicals could have a positive effect on the future volumes sold by Oxiteno and on the company&#8217;s results.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 8pt 0pt 8pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fuel distribution business</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In the recent past, the combined sales of gasoline, ethanol and natural gas (Otto cycle) in Brazil have been correlated mainly to the growth of the light vehicle fleet. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">We</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> believe that the current penetration of light vehicles in Brazil remains low compared with that seen in countries at a similar development level.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, according to ANP data, the domestic Otto cycle volume was </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">up</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;2%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">compared to 2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Diesel sales, which were </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">53</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">% of the volume sold by Ipiranga in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, historically correlated with the Brazilian economy&#8217;s performance, especially its agricultural and consumer goods industries. In </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, the domestic market for diesel fuel according to ANP </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">data</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">increased 8% in relation to 2020. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">An increase in fuel consumption have a positive effect on the company&#8217;s sales volume and, therefore, on its results.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> For more information, see &#8220;item 10.9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8211; Comments on other relevant factors that influenced operating performance&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2018, fuel costs increased in Brazil as oil prices rose globally and the Brazilian Real depreciated against the US Dollar. As a consequence, at the end of May 2018, truck drivers went on a nationwide strike demanding reduced diesel prices, exemption from tolls on no-freight legs, and reformed legislation, among other measures.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The strike caused fuels and other consumer goods shortages all over the country. Therefore, the Brazilian government reacted by establishing some emergency measures, such as minimum freight price table, reduction of R$ 0.46 per liter in diesel price, of which R$ 0.16 per liter in CIDE and PIS/Cofins taxes and R$ 0.30 per liter by a subsidies program implemented by the government until December 31, 2018.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Initially, prices remained flat for 60 days, and after this period, they were monthly adjusted according to a parametric formula established by the ANP. The subsidies program ended on December 31, 2018 and Petrobras returned to the previous policy adjustment according to the international market. Gasoline and diesel prices have therefore been influenced by international prices and exchange rate variations. However, Petrobras has not set a price-adjustment interval. In 2020, Petrobras maintained its policy of adjusting gasoline and diesel prices in line with international benchmarks. In the final months of 2020, however, Petrobras&#8217;s prices were adjusted at wider intervals and domestic prices remained below international parity.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, the costs with fuel materially increased in Brazil, mainly due to the oil prices rising globally and the Brazilian Real devaluation. The Brazilian Government reacted trying to reduce the volatility of the international prices in the domestic market mainly through federal tax exemptions on diesel and LPG.&nbsp; The CIDE and PIS/Cofins exemptions for diesel were in force between March and April 2021 but they are still ongoing for cooking gas.&nbsp;&nbsp;&nbsp; Petrobras is still setting the prices for oil and diesel considering the PPI &#8212; including international prices and real exchange rate &#8212; but with a shorter term for adjustments.&nbsp;&nbsp;</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The graphs below show the changes in the price distribution companies pay for gasoline and Diesel at the refineries.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><img src="imgae2060236ef640b08911.jpg" alt="Image2"></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><img src="img9e0b279cf71143148bb0.jpg" alt="Image3"></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 7.1pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Source</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">: Petrobras</font></p>
<h1 style="margin: 5.15pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effects of inflation over our operational costs and expenses</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s operational costs and expenses are substantially in Reais, thus influenced by the general price levels in the Brazilian economy. In </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2019, the variation of IPCA (Consumer Prices Index), the index adopted by the Brazilian government to set inflation targets, was </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10.1%, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4.5%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 4.3%, respectively.</font></p>
<h1 style="margin: 5.15pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial result</font></h1>
<h1 style="margin: 5.15pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;">The main macroeconomic factors that influence the financial results of Ultrapar are the foreign exchange and interest rates.</font></h1>
<h1 style="margin: 5.15pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Exchange rate</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Most of the transactions of Ultrapar, through its subsidiaries, are located in Brazil and, therefore, the reference currency for currency risk management is the Real. Currency risk management is guided by neutrality of currency exposures and considers the risks of the Company and its subsidiaries to changes in exchange rates. The Company considers as its main currency exposures the assets and liabilities in foreign currency. Ultrapar and its subsidiaries use exchange rate hedging instruments (especially between the Real and the U.S. dollar) available in the financial market to protect their assets, liabilities, revenues and disbursements in foreign currency and net investments in foreign operations, in order to reduce the effects of changes in exchange rates on its results and cash flows in Reais within the exposure limits under its Policy. Such foreign exchange hedging instruments have amounts, periods, and rates substantially equivalent to those of assets, liabilities, revenues and disbursements in foreign currency to which they are related. Assets and liabilities in foreign currencies are stated below, translated into Reais as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<h1 style="margin: 1.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Assets and liabilities in foreign currencies</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="line-height: 8.2pt; margin: 0pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">R$ million</font></p>
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<td style="width: 17.5245%; height: 22px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.2pt; margin: 0pt 12.85pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
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<td style="width: 17.6471%; height: 22px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.2pt; margin: 0pt 12.85pt 0pt 12.8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2020</font></p>
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<td style="width: 17.0343%; height: 22px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.2pt; margin: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2019</font></p>
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<p style="margin: 2.95pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Assets in foreign currency</font></p>
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<td style="vertical-align: top; width: 17.5245%; height: 21px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 17.6471%; height: 21px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 17.0343%; height: 21px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 24px;">
<td style="vertical-align: top; width: 47.6716%; height: 24px;">
<p style="margin: 0pt 20.45pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash, cash equivalents and financial investments in foreign currency (except </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">hedging instruments)</font></p>
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<td style="width: 17.5245%; height: 24px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">122</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<td style="width: 17.6471%; height: 24px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,413.3</font></p>
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<td style="width: 17.0343%; height: 24px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">455.6</font></p>
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<td style="vertical-align: top; width: 47.6716%; height: 11px;">
<p style="margin: 0pt 11.75pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Foreign trade receivables, net of allowance for doubtful accounts and advances to foreign customers</font></p>
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<td style="width: 17.5245%; height: 11px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font></p>
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<td style="width: 17.6471%; height: 11px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">307.8</font></p>
</td>
<td style="width: 17.0343%; height: 11px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">213.5</font></p>
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<tr style="height: 10px;">
<td style="vertical-align: top; width: 47.6716%; height: 10px;">
<p style="margin: 0.25pt 18.7pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other assets</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: center;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">186</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
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<td style="width: 17.6471%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: middle; text-align: center;" valign="middle">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,767.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="width: 17.0343%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: middle; text-align: center;" valign="middle">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1,445.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 19px;">
<td style="vertical-align: top; width: 47.6716%; height: 19px;">
<p style="margin: 0.25pt 18.7pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Asset exposure from subsidiaries held for sale</font></p>
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<td style="vertical-align: middle; width: 17.5245%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.839</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.2</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp; -</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> -</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 47.6716%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">149</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3,488.7</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2,114.2</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 47.6716%; height: 19px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; width: 47.6716%; height: 18px;">
<p style="margin: 1.1pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Liabilities in foreign currency</font></p>
</td>
<td style="vertical-align: top; width: 17.5245%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="vertical-align: top; width: 47.6716%; height: 25px;">
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financing in foreign currency, gross of transaction</font></p>
<p style="line-height: 9.4pt; margin: 0pt 0pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">costs and discount</font></p>
</td>
<td style="width: 17.5245%; height: 25px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.860,8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="width: 17.6471%; height: 25px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(9,246.7)</font></p>
</td>
<td style="width: 17.0343%; height: 25px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(6,895.1)</font></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="vertical-align: top; width: 47.6716%; height: 12px;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Payables arising from imports, net of advances to </font></p>
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">foreign suppliers</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 12px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">649,1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="width: 17.6471%; height: 12px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(633.0)</font></p>
</td>
<td style="width: 17.0343%; height: 12px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; vertical-align: middle;" valign="middle">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(344.5)</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="vertical-align: top; width: 47.6716%; height: 21px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 15.4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Liabilities exposure from subsidiaries held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 21px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(884</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4)</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 21px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp; -</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 21px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp; -</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; width: 47.6716%; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">394</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(9,879.7)</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(7,239.6)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; width: 47.6716%; height: 18px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 47.6716%; height: 17px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0.35pt 23.85pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Foreign currency hedging instruments</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.933</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,6</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4,837.6</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3,636.4</font></p>
</td>
</tr>
<tr style="height: 53px;">
<td style="vertical-align: top; width: 47.6716%; height: 53px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0.35pt 23.85pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Foreign currency hedging instruments from subsidiaries held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 53px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; border-bottom: 2.8pt double rgb(0, 0, 0);">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.786,5</font></p>
</td>
<td style="vertical-align: middle; width: 17.6471%; height: 53px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; border-bottom: 2.8pt double rgb(0, 0, 0);">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 17.0343%; height: 53px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; border-bottom: 2.8pt double rgb(0, 0, 0);">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
</tr>
<tr style="height: 27px;">
<td style="vertical-align: top; width: 47.6716%; height: 27px;">
<p style="margin: 0.35pt 23.85pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 27px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.6471%; height: 27px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 17.0343%; height: 27px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left;">
<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 47.6716%; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0.3pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net liability position &#8211; total</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(1.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">525,0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(1,553.4)</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(1,489.0)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: top; width: 47.6716%; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 1.25pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net asset (liability) position &#8211; income statement effect</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(498,6)</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">186.3</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 18px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">452.2</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 47.6716%; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 1.7pt 0pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Net liability position &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">equity effect from subsidiaries held for sale</font></p>
</td>
<td style="vertical-align: middle; width: 17.5245%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.026,4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: top; width: 17.6471%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(1,739.7)</font></p>
</td>
<td style="vertical-align: top; width: 17.0343%; height: 19px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: left; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(1,941.1)</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 8pt 28.35pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Sensitivity analysis of assets and liabilities in foreign currency</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The table below shows, in the three scenarios, the effects of exchange rate changes on the net liability position of R$ 1,5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million in foreign currency as of December 31, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.35pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 11.2pt;">
<td style="vertical-align: middle; width: 154.6pt;">
<p style="line-height: 8.2pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ million</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Risk</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Base</font></p>
</td>
</tr>
<tr style="height: 14.1pt;">
<td style="vertical-align: middle; width: 154.6pt;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Scenario</font></p>
</td>
</tr>
<tr style="height: 10.35pt;">
<td style="vertical-align: middle; width: 154.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 15.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Income statement effect</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Depreciation of Brazilian Real</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(25.2)</font></p>
</td>
</tr>
<tr style="height: 14.9pt;">
<td style="vertical-align: middle; width: 154.6pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 15.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">E</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ffect</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">25.2)</font></p>
</td>
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<tr style="height: 12.05pt;">
<td style="vertical-align: middle; width: 154.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 15.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(3) Income statement effect</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Apreciation of Brazilian Real</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25.2</font></p>
</td>
</tr>
<tr style="height: 13.85pt;">
<td style="vertical-align: middle; width: 154.6pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 15.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 96.25pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">E</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ffect</font></p>
</td>
<td style="vertical-align: middle; width: 76.6pt; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">25.2</font></p>
</td>
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</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Interest rate risk</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar and its subsidiaries adopt policies for borrowing and investing financial resources and for capital cost minimization. The financial investments of Ultrapar and its subsidiaries are primarily held in transactions linked to the DI, as set forth in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5 to our 2021 consolidated financial statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Borrowings primarily relate to financing from Banco do Brasil, as well as debentures and borrowings in foreign currency, as shown in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17 to our 2021 consolidated financial statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. The Company attempts to maintain most of its financial interest assets and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">liabilities at floating rates.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">T</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">he financial assets and liabilities exposed to floating interest as of December 31, 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1, 2020 and 2019, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">are demonstrated below:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.25pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 38px;">
<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0.15pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.6pt; margin: 0.05pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ million</font></p>
</td>
<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Note</font></p>
</td>
<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2020</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 38px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12/31/2019</font></p>
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<td style="vertical-align: middle; height: 17px; width: 50%;">
<p style="line-height: 8.9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">DI</font></p>
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<td style="vertical-align: middle; height: 17px; width: 10%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 17px; width: 2%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 17px; width: 2%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="line-height: 8.85pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cash equivalents</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.a</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">943</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.9</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">78</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.9</font></p>
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<tr style="height: 17px;">
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<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial investments</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.b</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">60</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7.6</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">49.9</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">61</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.7</font></p>
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<tr style="height: 25px;">
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<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Asset position of foreign exchange</font></p>
<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">hedging instruments - DI</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.g</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font></p>
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<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 8.7pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans and debentures</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17.a</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">85</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">947</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<tr style="height: 25px;">
<td style="vertical-align: middle; height: 25px;">
<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Liability position of foreign exchange</font></p>
<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">hedging instruments - DI</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.g</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">124</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">318</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<tr style="height: 34px;">
<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Liability position of fixed interest</font></p>
<p style="margin: 0.05pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">instruments + IPCA - DI</font></p>
</td>
<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.g</font></p>
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<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">36</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 34px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">82</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9.75pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net liability position in DI</font></p>
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<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">953</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">3.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">99</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">7.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="vertical-align: middle; height: 20px;">
<p style="line-height: 9.55pt; margin: 5.3pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TJLP</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 20px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans - TJLP</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17.a</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">0.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">29.8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt; text-decoration: underline;"> </font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">3.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt; text-decoration: underline;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.1pt; text-decoration: underline;"> </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9.25pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net liability position in TJLP</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">0.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">29.8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">3.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9.45pt; margin: 2.2pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">LIBOR</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="vertical-align: middle; height: 25px;">
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Asset position of foreign exchange hedging</font></p>
<p style="line-height: 9.5pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">instruments - LIBOR</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34.g</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">279</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.0</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">261</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.0</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">850</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.3</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9pt; margin: 0pt 63.9pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans - LIBOR</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17.a</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">27</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">5.9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">573</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">457</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.2pt;"> </font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="line-height: 9.25pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net liability position in LIBOR</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">3.1</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">31</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2.5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.15pt; text-decoration: underline;"> </font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">607</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">.0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">)</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; letter-spacing: -0.15pt; text-decoration: underline;"> </font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 3.25pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">SELIC</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 21px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0.5pt 64.55pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Loans - SELIC</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">17.a</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0.5pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Net liability position in SELIC</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="vertical-align: middle; height: 18px;">
<p style="margin: 0.45pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total net liability position exposed to floating interest&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 18px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><br></p>
</td>
<td style="vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,950.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; height: 18px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">62</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5.8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="vertical-align: middle; height: 18px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">739.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
</tr>

</table>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Sensitivity analysis of floating interest rate risk</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For sensitivity analysis of floating interest rate risk, Ultrapar used the accumulated amount of the reference indexes (DI, TJLP, LIBOR and SELIC) as a base scenario.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> The </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">table below show</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> the incremental expenses and income that would be recognized in financial income </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">if </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the floating interest market curves on the base date were applied to the average balances for the current year,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> due to the effect of floating interest rate</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.1pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<table cellspacing="0" cellpadding="0" style="height: 285px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 80%; text-indent: 0px;" width="80%">

<tr style="height: 14px;">
<td style="vertical-align: top; width: 164.4pt; height: 14px;">
<p style="line-height: 7.9pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ million</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 14px;">
<p style="line-height: 7.9pt; margin: 0pt 28.75pt 0pt 25.45pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Risk</font></p>
</td>
<td style="vertical-align: top; width: 68.35pt; height: 14px;">
<p style="line-height: 7.9pt; margin: 0pt 0pt 0pt 15.45pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Base</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 164.4pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 68.35pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 16.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Scenario</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 164.4pt; height: 17px;">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Exposure of interest rate risk</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top; width: 68.35pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="vertical-align: top; width: 164.4pt; height: 25px;">
<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest effect on cash equivalents </font></p>
<p style="line-height: 9.45pt; margin: 0.05pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">and financial</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 25px; padding: 0px;">
<p style="margin: 0pt 17.55pt 0pt 7.1pt; text-align: center; text-indent: 0px; line-height: 9.7pt; font-family: 'Century Gothic';"><font style="font-family: 'Century Gothic'; font-size: 9pt; orphans: 0; widows: 0;"> Increase in DI</font></p>
</td>
<td style="width: 68.35pt; height: 25px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="margin: 4.15pt 0pt 0pt 42.55pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">153.2</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 164.4pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest effect on debt in DI</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 17.55pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Increase in DI</font></p>
</td>
<td style="width: 68.35pt; height: 17px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 37.75pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">360.7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 29px;">
<td style="vertical-align: top; width: 164.4pt; height: 29px;">
<p style="margin: 0.4pt 10.35pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest rate hedging instruments </font></p>
<p style="margin: 0.4pt 10.35pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(liabilities in DI) effect</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 29px;">
<p style="margin: 5.3pt 17.55pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Increase in DI</font></p>
</td>
<td style="width: 68.35pt; height: 29px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="margin: 5.3pt 0pt 0pt 37.75pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">221.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="width: 164.4pt; height: 23px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Incremental expenses</font></p>
</td>
<td style="width: 73.55pt; height: 23px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="width: 68.35pt; height: 23px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.8pt; margin: 0pt 0pt 0pt 37.55pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">428.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
</tr>
<tr style="height: 32px;">
<td style="width: 164.4pt; height: 32px; vertical-align: middle;" valign="middle">
<p style="margin: 0.55pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest effect on debt in TJLP</font></p>
</td>
<td style="width: 73.55pt; height: 32px; vertical-align: middle;" valign="middle">
<p style="margin: 0.55pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.7pt; margin: 0pt 16.25pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Increase in TJLP</font></p>
</td>
<td style="width: 68.35pt; height: 32px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="margin: 0.55pt 0pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 7.1pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(0.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font></p>
</td>
</tr>
<tr style="height: 24px;">
<td style="width: 164.4pt; height: 24px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.35pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Incremental expenses</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 24px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="width: 68.35pt; height: 24px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.35pt; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp; (0.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
</tr>
<tr style="height: 47px;">
<td style="vertical-align: top; width: 164.4pt; height: 47px;">
<p style="margin: 0.4pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.7pt; margin: 0pt 9.95pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Foreign Exchange hedging instruments (assets in LIBOR) effect</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 47px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.45pt; margin: 0pt 13.5pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Increase in LIBOR</font></p>
</td>
<td style="width: 68.35pt; height: 47px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 9.45pt; margin: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: top; width: 164.4pt; height: 19px;">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Interest effect on debt in LIBOR</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 19px;">
<p style="line-height: 9pt; margin: 0pt 13.5pt 0pt 7.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Increase in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">LIBOR</font></p>
</td>
<td style="width: 68.35pt; height: 19px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle;" valign="middle">
<p style="line-height: 9pt; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">0.1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; letter-spacing: -0.05pt;">)</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="width: 164.4pt; height: 21px; vertical-align: middle;" valign="middle">
<p style="line-height: 8.85pt; margin: 0pt 0pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Incremental expenses</font></p>
</td>
<td style="vertical-align: top; width: 73.55pt; height: 21px;">
<p style="margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="width: 68.35pt; height: 21px; text-align: right; padding: 0px 7px 0px 0px; vertical-align: middle; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;" valign="middle">
<p style="line-height: 8.85pt; margin: 0pt 0pt 0pt 41.6pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(0.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
</tr>

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<div style="width: 8.5in; margin: 0 auto;">
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.3 - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Comments on material effects that the events below have caused or are expected to cause on the Company&#8217;s financial statements and results:</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">a.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Introduction or disposal of operating segment</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">There was no introduction or sale of an operating segment in fiscal year 2021.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">In July 2020, the company </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">abastece a&#237;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> was created</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> from the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> basis of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">programs </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">abastece a&#237;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">app </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and Km de Vantagens to operate in the digital payments segment</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, under the brand abastece a&#237;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<h1 style="margin: 0pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">b.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Establishment, acquisition or sale of ownership interest</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of Extrafarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On May 18, 2021, Ultrapar signed a share purchase agreement for the sale of all shares of Extrafarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to Empreendimentos Pague Menos S.A. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The total sale price (EV &#8211; enterprise value) is R$ 700 million,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">subject to adjustments due mainly to changes in working capital and Extrafarma's net</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt position on the closing date of the transaction.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The payment of the transaction will be in three installments: 50% on the closing date and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25% on each the first and the second anniversary of the closing date. A guarantee will</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">be provided by a shareholder for the last two installments.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of December 31, 2021, the consummation of the transaction was still subject to approval by the Brazilian anti trust authorities.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Oxiteno&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On August 16, 2021, Ultrapar signed a share purchase agreement for the sale of all shares of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s of Oxiteno S.A. &#8211; Ind&#250;stria e Com&#233;rcio</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to Indorama</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ventures PLC</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The total sale price (enterprise value) is US$ 1,300 million, of which</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$ 1,150 million at closing, subject to customary adjustments, such as changes in working capital and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">net debt position, and US$ 150 million in the second anniversary after closing.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of December 31, 2021, the consummation of the transaction was still subject to approval by the Brazilian anti trust authorities.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">ConectCar&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar concluded the process of sale </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of its equity interest in ConectCar, through its subsidiary </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPP,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to Portoseg S.A., a company controlled by Porto Seguro S.A.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The sale price of the 50% stake in ConectCar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 165 million, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and, after adjustments in working capital and net debt position, totalled R$ 158 million. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">c.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Unusual events or transaction</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.</font></p>
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<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.4 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Comments on:</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">a.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Significant changes in accounting practices</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">As from January 01, 2019, the Company adopted the IFRS 16 standard issued by the IASB. The Company chose as the modified retrospective approach transition method, with the cumulative effect of the initial application of this new accounting pronouncement registered as an adjustment to the opening balance of shareholders&#8217; equity and without re-presentation of comparative periods.</font></p>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">1</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">There are no standards, amended standards or interpretations of IASB&#8217;s IFRS exist that are effective and could have a material impact on the financial statements of December 31, 2020, that Ultrapar has not adopted.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In order to be prepared for the transition of the IBORs, the Company is monitoring the pronouncements of the authorities, as well as the measures that have been adopted, aiming at the adaptation of the financial instruments to the new benchmarks. On June 2017, the Company, through the subsidiary IPP, contracted a financing with maturity date on June 2022, with the current notional amount of USD 50.0 million linked to LIBOR, with quarterly interest flows and principal amortization at the end of the operation. At the time of debt raising, a swap transaction with a notional value and cash flow identical to that of raising was closed with the same financial institution, through which the IPP became active in LIBOR, at an interest rate equivalent to the debt and liability rate in floating rate Reais (see Notes 17 c.1, 17.d and 34.g), these being the only operations linked to LIBOR. In view of the short-term maturity as well as the debt, the swap and the fact that both have the same cash flow and financial institution, the Company understands that there are not currently impacts from the LIBOR change on its operations.</font></p>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">20</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">There are no standards, amended standards or interpretations of IASB&#8217;s IFRS exist that are effective and could have a material impact on the financial statements of December 31, 2020, that Ultrapar has not adopted.</font></p>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2019</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The following standards, amendments to standards and interpretations to the IFRS issued by the IASB came into effect on January 1, 2019:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">IFRS 16/CPC 06 (R2) - </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Leasing operations</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">With the adoption of IFRS 16/ CPC 06 (R2), the leasing agreements of the Company&#8217;s subsidiaries, identified and effective on the date of transition and with terms in excess of 12 months, were accounted in the following manner in the financial statements:</font></p>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ecognition of right to use assets and lease liabilities in financial position, initially measured at the present value of future lease payments; and </font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ecognition of amortization expenses of right to use assets and interest expenses on the lease payable in the financial result in the statements of profits or loss</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For more information, see </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ote</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2.y.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">b.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Significant effects of changes in accounting practices</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2021</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2020</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2019</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The new accounting pronouncements issued by the IASB had their impacts disclosed in our 2019 Consolidated Financial Statements in note 2.y Adoption of the pronouncements issued by CPC and IASB.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-align: justify; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">c.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Exceptions and emphasis present in the auditor&#8217;s opinion</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="margin: 1.95pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.5 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Comments on the Company&#8217;s critical accounting policies</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The presentation of our financial condition and results of operations requires our management to make judgments regarding the effects of matters that are inherently uncertain on the carrying value of our assets and liabilities and may affect the reported amount of them as well as our revenues and expenses. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The information regarding uncertainties related to the assumptions and estimates are included: in</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">determining the fair value of financial instruments (Notes 2.c, 2.m, 5, 17 and 34), the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">determination of the loss allowance for expected credit losses (Notes 2.d, 6 and 34.d.3), the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">determination of provisions for losses of inventories (Notes 2.e and 7), the estimates of realization</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of deferred IRPJ and CSLL amounts (Notes 2.n and 10.a), the useful lives and discount rate of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">right-of-use assets (Notes 2.i and 14), the useful lives of PP&amp;E (Notes 2.j and 15), the useful lives</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of intangible assets, and the determination of the recoverable amount of goodwill (Notes 2.k and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16.a), provisions for assets retirement obligations (Notes 2.o and 22), provisions for tax, civil, and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">labor risks (Notes 2.p and 23), estimates for the preparation of actuarial reports (Notes 2.q and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">21.b) and the determination of fair value of subscription warrants &#8211; indemnification (Notes 25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and 34.j). The actual result of the transactions and information may differ from their estimates</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The effective results and information of transactions may differ from these estimates when they materialize.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">We have identified the following accounting policies as critical:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fair value of financial instruments</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Measured at fair value through other comprehensive income: financial assets that are acquired or originated for the purpose of collecting contractual cash flows or selling financial assets.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> The balances are stated at fair value, and the interest earned, and the foreign currency exchange </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">variation are</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> recognized in profit or loss. Differences between fair value and initial amount of financial investments plus the interest earned are recognized in equity in other comprehensive income in the &#8220;Valuation adjustments&#8221;. Accumulated gains and losses recognized in equity are reclassified to profit or loss at the time of their settlement. Substantially the financial investments in Bank Certificates of Deposit (&#8220;CDB&#8221;) and repurchase agreements are classified as measured at fair value through other comprehensive income.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Measured at fair value through profit or loss: financial assets that were not classified as amortized cost or measured at fair value through other comprehensive income.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> The balances are stated at fair value and both the interest earned and the exchange variations and changes in fair value are recognized in the income statement. Investment funds and derivatives are classified as measured at fair value through profit or loss.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Hedge accounting &#8211; fair value hedge: financial instruments used to hedge exposure to changes in the fair value of an item, attributable to a particular risk, which can affect the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">entity&#8217;s statements of profit or loss. In the initial designation of the fair value hedge, the relationship between the hedging instrument and the hedged item is documented, including the objectives of risk management, the strategy in conducting the transaction, and the methods to be used to evaluate its effectiveness. Once the fair value hedge has been qualified as effective, the hedge item is also measured at fair value. Gains and losses from hedge instruments and hedge items are recognized the statements of profit or loss. The hedge accounting must be discontinued when the hedge becomes ineffective.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">llowance for expected credit losses </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The expected losses take into account, (i) at the initial recognition of the contract, the expected losses for the next 12 months or (ii) for the lifetime of the contract when the deterioration or improvement of the customers&#8217; credit quality, considering the customers&#8217; characteristics in each business segment. The amount of the expected credit losses is deemed by management to be sufficient to cover any probable loss on realization of trade receivables. The credit policy establishes the analysis of the profile of each new customer, individually, regarding their financial condition. The review carried out by the subsidiaries of the Company includes the evaluation of external ratings, when available, financial statements, credit bureau information, industry information and, when necessary, bank references. Credit limits are established for each customer and reviewed periodically, in a shorter period the greater the risk, depending on the approval of the responsible area in cases of sales that exceed these limits.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In monitoring credit risk, customers are grouped according to their credit characteristics and depending on the business the grouping takes into account, for example, whether they are natural or legal clients, whether they are wholesalers, resellers or final customers, considering also the geographic area.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The expected of credit losses are calculated by the expected loss approach based on the probability of default rates. Loss rates are calculated on the basis of the average probability of a receivable amount to advance through successive stages of default until full write-off. The probability of default calculation takes into account a credit risk score for each exposure, based on data considered to be capable of foreseeing the risk of loss (external classifications, audited financial statements, cash flow projections, customer information available in the press, for example), with addition of the credit assessment based on experience.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Such credit risks are managed by each business unit through specific criteria for acceptance of customers and their credit rating and are additionally mitigated by the diversification of sales. No single customer or group accounts for more than 10% of total revenue.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For further information, see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the financial statements.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Provisions for inventory losses</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">If net realizable values are below inventory costs, a provision corresponding to this difference is recognized. Provisions are also made for obsolescence of products, materials, or supplies that (i) do not meet its subsidiaries&#8217; specifications, (ii) have exceeded their expiration date, or (iii) are considered slow-moving inventory. This classification is made by management with the support of its industrial and operations teams. For further information on Ultrapar&#8217;s provisions for inventory losses, see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the financial statements.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Income tax and social contribution tax on net income</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Current and deferred income tax (IRPJ) and social contribution tax on net income (CSLL) are calculated based on their current rates. For the calculation of current IRPJ, the value of tax incentives is also considered. Taxes are recognized based on the rates of IRPJ and CSLL provided for by the legislation in force on the last day of the financial statements. The current rates in Brazil are 25% for income tax and 9% for social contribution tax on net income. For further details about recognition and realization of IRPJ and CSLL, see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of the financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">statements.</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Right-of-use assets and leases payable</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company and its subsidiaries recognized in the financial position, a right-of-use assets and the respective lease liabilities initially measured at the present value of future lease payments, considering the related contract costs (see Note 14). The amortization </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">expenses of right-of-use assets is</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> recognized in statement of profit or loss over the lease contract term. When the right-of-use asset is used in the construction of the property, plant, and equipment (&#8220;PP&amp;E&#8221;), its amortization is capitalized until the asset under construction is completed. The liability is increased for interest and decreased by lease payments made. The interests are recognized in the statement of profit or loss using the effective interest rate method. The remeasurement of assets and liabilities based on the contractual index is recognized in the financial position, not having an effect in the result. In case of cancellation of the contract, the assets and respective liabilities are written off to the result, considering, if it is the case, any penalties provided in contractual clauses. The Company and its subsidiaries have no intention in purchasing the underlying asset. The Company and its subsidiaries periodically review the existence of an indication that the right-of-use assets may be impaired (see Note 2.v)</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Right-of-use assets include amounts related to area port leases grants (see Note 35.c).</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company and its subsidiaries apply the recognition exemptions to short-term leases of 12 months or less and lease contracts of low amount assets. In these cases, the recognition of the lease expense in the statements of profit or loss is on a straight-line basis.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Property, plant, and equipment</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Property, plant, and equipment (&#8220;PP&amp;E&#8221;) is recognized at acquisition or construction cost, including financial charges incurred on PP&amp;E under construction, as well as qualifying maintenance costs resulting from scheduled plant outages and estimated costs to remove, to decommission, or to restore assets (see Notes 2.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">o</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">), less accumulated depreciation and, when applicable, less provision for losses (see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">).</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Depreciation is calculated using the straight-line method, over the periods mentioned in Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, taking into account the estimated useful lives of the assets, which are reviewed annually. Leasehold improvements are depreciated over the shorter of the lease contract term and useful life of the property.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Intangible assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Intangible assets include assets acquired by the Company and its subsidiaries from third parties, and are recognized according to the criteria below:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Goodwill is shown as intangible assets corresponding to the positive difference between the amount paid or payable to the seller and the fair value of the identified assets and liabilities assumed of the acquired entity. Goodwill is tested annually for impairment. Goodwill is allocated to the business segments, which represent the lowest level that goodwill is monitored for impairment testing purposes (see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.a).</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; margin: 6pt 0pt 0pt 27.15pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other intangible assets acquired from third parties, such as software, technology, and commercial property rights, are measured at the total acquisition cost and amortized using straight-line method, over the periods mentioned in Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, taking into account their useful lives, which are reviewed annually.</font></li>
</ul>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar and its subsidiaries have not recognized intangible assets that were generated internally. Ultrapar and its subsidiaries have goodwill and brands acquired in business combinations, which are evaluated as intangible assets with indefinite useful life (see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> items </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> e).</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Impairment of assets</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company and its subsidiaries review in every reporting period the existence of any indication that an asset may be impaired. To intangible assets with indefinite useful life the review is done annually. If there is an indication of devaluation the Company and its subsidiaries estimate the recoverable amount of the asset. Assets that cannot be evaluated individually are grouped in the smallest group of assets that generate cash inflow from continuous use and that are largely independent of cash flows of other assets (cash generating units, &#8220;CGU&#8221;). The recoverable amount of assets or CGUs corresponds to the greater of their fair value net of applicable direct selling costs and their value in use.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The fair value less costs to sell is determined by the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date, net of costs of removing the asset, and direct incremental costs to bring an asset into condition for its sale, legal costs, and taxes.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">To assess the value in use, the projections of future cash flows, trends, and outlooks, as well as the effects of obsolescence, demand, competition, and other economic factors were considered. Such cash flows are discounted to their present values using the discount rate before tax that reflects market conditions for the period of impairment testing and the specific risks of the asset or CGU being evaluated. In cases where the expected discounted future cash flows are less than their carrying amount, an impairment loss is recognized for the amount by which the carrying value exceeds the fair value of these assets. Losses for impairment of assets are recognized in profit or loss. In case goodwill has been allocated to a CGU, the recognized losses are first allocated to reduce the corresponding goodwill. If the goodwill is not enough to absorb such losses, the surplus is allocated to the assets on a pro-rata basis. An impairment of goodwill cannot be reversed. For other assets, impairment losses may be reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if the impairment had not been recognized.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On December 31, 2021, the Company updated the calculation of the impairment of assets realized on June 30, 2021, for the subsidiary Imifarma Produtos Farmac&#234;uticos e Cosm&#233;ticos S.A. (&#8220;Extrafarma&#8221;) in the amount of R$ 427.5 million and deferred income and social contribution taxes effects of R$ 145.4 million, resulting in a net loss of R$ 282.2 million. See Note 3.a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to our 2021 Consolidated Financial Statements</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Provision for asset retirement obligation &#8211; fuel tanks</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary Ipiranga has the legal obligation to remove the underground fuel tanks located at Ipiranga-branded service stations after a certain period. The estimated cost of the obligation to remove these fuel tanks is recognized as a liability when the tanks are installed. The estimated cost is recognized in PP&amp;E and depreciated over the respective useful lives of the asset. The amounts recognized as a liability accrue inflation effect using the Amplified Consumer Price Index (&#8220;IPCA&#8221;) until the tank is removed (see Note 22). The estimated removal cost is reviewed and updated annually or when there is significant change in its amount and change in the estimated costs are recognized in statements of profit or loss when they become known.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Provisions for tax, civil, and labor risks</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">A provision for tax, civil and labor risks is recognized for quantifiable risks, when the chance of loss is more-likely-than-not in the opinion of management and internal and external legal counsel, and the amounts are recognized based on the evaluation of the outcomes of the legal proceedings (see Note </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">).</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-employment benefits</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Post-employment benefits granted and to be granted to employees, retirees, and pensioners are based on an actuarial calculation prepared by an independent actuary and reviewed by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">management, using the projected unit credit method (see Note 21.b). The actuarial gains and losses are recognized in equity in cumulative other comprehensive income in the &#8220;Valuation adjustments&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Subscription warrants &#8211; indemnification</font></p>
<p style="margin: 6pt 0cm 0cm 7.1pt; text-align: justify; line-height: 120%; font-size: 10pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-ansi-language: EN-US;">Because of the association between the Company and Extrafarma on January 31, 2014, 7 subscription warrants &#8211; indemnification could be issued, corresponding to up to 6,411,244 shares of the Company. The subscription warrants &#8211; indemnification may be exercised beginning 2020 by the former shareholders of Extrafarma and are adjusted according to the changes in the amounts of provisions for tax, civil, and labor risks and contingent liabilities related to the period prior to January 31, 2014. The subscription warrants &#8211; indemnification&#8217;s fair value is measured based on the share price of Ultrapar (UGPA3) and is reduced by the dividend yield until 2020, since the exercise is possible only from 2020, and they are not entitled to dividends while they are not converted into shares.</font></p>
<p style="margin: 6pt 0cm 0cm 7.1pt; text-align: justify; line-height: 120%; font-size: 10pt; font-family: Calibri, sans-serif;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-ansi-language: EN-US;">On February 19, 2020, August 12, 2020, February 24, 2021 and August 11, 2020, the Company&#8217;s Board of Directors confirmed, the issuance of, respectively, 2,108,542, 86,978, 70,939 and 31,032 common shares within the authorized capital limit provided by the art. 6 of the Bylaws, due to the partial exercise of the rights conferred by the subscription warrants issued by the Company when the merger of all Extrafarma shares by the Company, approved by the extraordinary general meeting of the Company held in January 31, 2014.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"><font lang="EN-US" style="font-size: 9.0pt; line-height: 120%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">In the association agreement between the Company and Extrafarma on January 31, 2014 and due to the unfavorable decisions of some processes with triggering events prior to January 31, 2014, 578,538 shares linked to the subscription warrants &#8211; indemnification were canceled and not issued. On December 31, 2021, 3,527,934 shares were retained linked to subscription warrants &#8211; indemnification which will be issued or canceled according as the final decision of the processes are favorable or unfavorable, respectively, being this the maximum number of shares that can be issued in the future, totaling R$ 51.3 million (R$ 86.4 million as of December 31, 2020).</font> </font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10.6. &#8211; Issuer&#8217;s off-balance sheet items</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 8.45pt 0pt 0pt 25.1pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Assets and liabilities held by the issuer, whether directly or indirectly, off-balance sheet:</font></li>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; margin: 6pt 0pt 8pt 22.7pt; padding-left: 4.2pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Operating leases, assets and liabilities</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.6.b. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other off-balance sheet arrangements&#8221;.</font></p>
<ol start="2" type="i" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; margin: 0pt 0pt 8pt 22.95pt; padding-left: 4.05pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Receivables portfolios over which the entity has risks and liabilities, indicating respective liabilities</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; margin: 0pt 0pt 8pt 22.95pt; padding-left: 4.05pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Future purchase and sale of products or services contracts</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.6.b. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other off-balance sheet arrangements&#8221;.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; margin: 0pt 0pt 8pt 22.95pt; padding-left: 4.05pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Unfinished construction contracts</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; margin: 0pt 0pt 8pt 22.95pt; padding-left: 4.05pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Other future financing agreements</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 8.45pt 0pt 0pt 25.1pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Other off-balance sheet arrangements </font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.1.c. Capacity to honor our financial obligations&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The subsidiary IPP issue collateral to financial institutions in connection with the amounts owed by some of their customers to such institutions (vendor financing) as follows:</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0.35pt 0pt 0.05pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Vendor</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2021</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">2020</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Term</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Up to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">49</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> months</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Up to 46 months</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum amount of future payments related to these</font></p>
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<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">690.3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million</font></p>
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<td style="vertical-align: middle; width: 97.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 330.9 million</font></p>
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<td style="vertical-align: middle; width: 205.55pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fair value of collaterals</font></p>
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<td style="vertical-align: middle; width: 79.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 9.9 million</font></p>
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<td style="vertical-align: middle; width: 97.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$ 5.5 million</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">If the subsidiary IPP is required to make any payment under these collaterals, this subsidiary may recover the amount paid directly from its customers through commercial collection. Until December 31, 2021 the subsidiary IPP did not have losses in connection with these collaterals. The fair value of collaterals is recognized in current liabilities as &#8220;other payables&#8221;, which is recognized in the statement of profit or loss as customers settle their obligations with the financial institutions.</font></p>
<h1 style="margin: 1.95pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.7. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Comments on off-balance sheet items</font></h1>
<ol type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 8.45pt 0pt 0pt 25.1pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">How such items change or may change revenues, expenses, operating income, financial expenses or other items of the issuer&#8217;s financial statements</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable. </font></p>
<ol start="2" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 8.45pt 0pt 0pt 25.1pt; orphans: 0; text-align: justify; text-indent: -18pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Nature</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and purpose of the transaction</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.6.b. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other off-balance sheet arrangements&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="3" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 6pt 0pt 0pt 24.95pt; orphans: 0; text-align: justify; text-indent: -17.85pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Nature</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and amount of obligations assumed by and rights conferred upon the issue due to the transaction</font></li>
</ol>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See &#8220;Item 10.6.b. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Other off-balance sheet arrangements&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><br></p>
<h1 style="margin: 1.95pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.8. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">Discussion on the main elements of the issuer&#8217;s business plan, specifically exploring the following topics</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">:</font></h1>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">a.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Invest</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ments</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 3.2pt 0pt 0pt 22.7pt; orphans: 0; text-indent: -15.6pt; widows: 0;"><font style="font-family: Calibri; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;">i.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Quantitative and qualitative description of the investments in progress and the estimated investments</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2021, Ultrapar&#8217;s investments, net of divestments and receivables, totaled R$ 1.9 billion, 27% higher than the amount invested in 2020, mainly due to lower investments in 2020 as a cash contingency measure, due to the uncertainties imposed by the pandemic and lower markets growth.Ultragaz invested R$ 354 million in 2021, mainly allocated to equipment installed in new customers in the bulk segment, to the new plants in Bel&#233;m (state of Par&#225;) and Fortaleza (state of Cear&#225;), to the acquisition and replacement of bottles, in addition to security and information technology projects.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultracargo recorded investments of R$ 358 million in 2021, mainly for the construction of the new terminal in Vila do Conde (state of Par&#225;), for the expansion of the Itaqui terminal (Phase III) and projects for efficiency gains, maintenance and operational safety of the terminals.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Oxiteno invested R$ 287 million in 2021, mainly directed to the maintenance and safety of production units.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga invested R$ 807 million in 2021, allocated to the expansion and maintenance of Ipiranga&#8217;s service stations franchise network, besides logistics infrastructure. Out of the total investments, R$ 418 million refers to fixed and intangible assets and R$ 420 million to contractual assets with customers (exclusive rights). These amounts were reduced by the receipt of R$ 32 million installments from sale of real estate assets, net of financings offered to customers.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Extrafarma<font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -21.2px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><font>&nbsp;</font>invested R$ 36 million in 2021, mainly for information technology projects and maintenance and improvements in stores.</font><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 23pt; orphans: 0; text-align: justify; text-indent: -15.9pt; widows: 0;"><font style="font-family: Calibri; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;">ii.<font style="color: #000000; font-family: 'Times New Roman'; font-size: 9.33333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -21.2px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Sources of financing investments</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For further details on the sources of financing investments, see &#8220;Item 10.1.d. Sources for financing working capital and investments in non-current assets&#8221; and &#8220;Item 10.1.e. Sources for financing working capital and investments in non-current assets to be used to in case of deficiencies in liquidity&#8221;.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 23pt; orphans: 0; text-align: justify; text-indent: -15.9pt; widows: 0;"><font style="font-family: Calibri; font-size: 9pt; font-weight: bold; letter-spacing: -0.1pt;">iii.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Relevant disposals in progress and forecasted disposals</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar made three important moves throughout 2021:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of Extrafarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">&#8217;s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On May 18, 2021, Ultrapar signed a share purchase agreement for the sale of all shares of Extrafarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to Empreendimentos Pague Menos S.A. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The total sale price (EV &#8211; enterprise value) is R$ 700 million,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">subject to adjustments due mainly to changes in working capital and Extrafarma's net</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">debt position on the closing date of the transaction.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The payment of the transaction will be in three installments: 50% on the closing date and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25% on each the first and the second anniversary of the closing date. A guarantee will</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">be provided by a shareholder for the last two installments.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of December 31, 2021, the consummation of the transaction was still subject to approval by the Brazilian anti trust authorities.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Oxiteno&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">On August 16, 2021, Ultrapar signed a share purchase agreement for the sale of all shares of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s of Oxiteno S.A. &#8211; Ind&#250;stria e Com&#233;rcio</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to Indorama</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ventures PLC</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The total sale price (enterprise value) is US$ 1,300 million, of which</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">US$ 1,150 million at closing, subject to customary adjustments, such as changes in working capital and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">net debt position, and US$ 150 million in the second anniversary after closing.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of December 31, 2021, the consummation of the transaction was still subject to approval by the Brazilian anti trust authorities.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Signing of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">ConectCar&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">sale agreement </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar concluded the process of sale </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">of its equity interest in ConectCar, through its subsidiary </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">IPP,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to Portoseg S.A., a company controlled by Porto Seguro S.A.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The sale price of the 50% stake in ConectCar </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">was</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> R$ 165 million, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and, after adjustments in working capital and net debt position, totalled R$ 158 million.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">b.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Disclosed acquisitions of plants, equipment, patents or other assets that may materially affect the issuer&#8217;s production capacity</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">There is no disclosed </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">acquisitions</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of plants, equipment, patents or other assets that may materially affect the issuer's production capacity.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6.1pt 0pt 0pt 22.45pt; orphans: 0; text-indent: -14.3pt; widows: 0;"><font style="font-family: Calibri; font-size: 10pt; font-weight: bold;">c.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">N</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ew products and services</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Through the UVC Investments, a corporate venture capital fund created in 2020, the Ultra Group has focused on investing in innovative companies and new technologies that are complementary to the Companies&#8217; businesses. The </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">fund, that has already invested in six startups,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> has been focused on opportunities in three segments: energy, mobility and digital technologies.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultragaz</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ultragaz, innovation and technology have guided the work of the Development of Solutions area, providing the market with an average of five new projects per year. Some of the highlights of 2021 include exclusive solutions to the agribusiness industry, automating the post-harvest activities and leading to more efficiency and cost reduction for customers. One of these solutions was Ultragaz Secagem de Gr&#227;os that uses temperature and humidity sensors to control the grains drying process to save energy. There have also been advances in the digital journey. Ultragaz reached 2.2 million downloads in the Ultragaz app and around 1 thousand resellers using the AmigU app, a delivery digitalization program that ensures the orders are sent to the closest dealer and provide customers with real-time delivery tracking. Finally, Ultragaz has made important progress on consolidating digital partnerships with iFood, Recargapay, and Cart&#227;o de Todos.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultracargo</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At Ultracargo, the Conecta project, a new managerial and operations systems architecture, has enabled the improvement of the processes and reinforced the level of security of the company&#8217;s transactions, with focus on maximizing the use of the assets and the level of service delivered to the customers, besides improving the supply chain performance. The project has already been implemented in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the headquarter</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and in the terminals located in Itaqui (state of Maranh&#227;o), Suape (state of Pernambuco) and Vila do Conde (state of Par&#225;) and will be implemented in other terminals in 2022. Furthermore, the implementation of the SOUL (Ultracargo Operations System) project has provided relevant gains in security and productivity, based on a new philosophy of continuous improvement of the processes, optimization of terminals operation and reducing losses. Finally, the company has also begun implementing the Soul+ Program, a program of ideas to encourage employees to propose innovative solutions that can be easily implemented to improve the operations performance.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Oxiteno</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considering the whole open innovation ecosystem, which includes startups, companies, consulting firms, universities and institutes of science and technology, Oxiteno signed 33 contracts in 2021 &#8212; 8 of them being concept of proofs with startups, and 4 out of these 8 implemented in 2021. Working with co-funded partnerships, Oxiteno has been developing three projects with the Brazilian Company of Industrial Research and Innovation (EMBRAPII) and the Institute of Technological Research (IPT) of S&#227;o Paulo. Oxiteno also counts with the expertise of more than 20 scholarship researchers from Inova Talentos program from the Euvaldo Lodi Institute (IEL) developed in partnership with the Brazilian Council for the Scientific and Technological Development (CNPq), and from 10 other CNPq scholarships for students on Undergraduate Research Internship, Master&#8217;s Degree and Doctorate for Innovation (MAI/DAI). In 2021, 16 patent requests were filed, with 8 of them being granted. Oxiteno also registered 64 new products with sales started in 2021. Oxiteno&#8217;s digital innovation laboratory, Xlab, transformed 36 ideas into products or solutions to meet demands from different areas of the company.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ipiranga</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ipiranga created in 2019 an innovation hub named Turbo to foster the interaction between the company and startups and to promote innovation culture. This hub enabled the company to receive two awards: winner on the Retail and Distribution category of the 100 Open Startups 2021 ranking and second position on the award in the Oil and Gas and Petrochemistry category from Valor Inova&#231;&#227;o award, which positioned Ipiranga among the most innovative companies in Brazil. Another highlight for Ipiranga in 2021 was the Ipiranga-Cebrap Challenge: Mobility and Trends. The challenge was created by Turbo and the Brazilian Center of Analysis and Planning (Cebrap) to encourage the production of scientific knowledge about urban mobility. In September, during the Urban Mobility Week, Turbo also released a webinar series Mobilidade em Transi&#231;&#227;o (Transitioning Mobility) to promote discussions about mobility challenges.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Extrafarma</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The digital transformation initiatives of Extrafarma also advanced this year. A highlight of this transformation was the creation of the 360 app that helps on the dynamics of displaying the products in the physical drugstores and also on the communication and negotiation with the industry.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<h1 style="margin: 1.95pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">10.9. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;"> Com</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: none;">ments on other relevant factors that influenced operating performance</font></h1>
<h1 style="margin: 7.65pt 0pt 0pt 7.1pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;">Not applicable. There </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;">are</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;"> no other relevant factor that affected the Company&#8217;s operational performance</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;">in </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: normal; text-decoration: none;">2021.&nbsp;</font></h1>
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</div><div style="font-family: 'times new roman', times; font-size: 10pt;"><div style="width: 8.5in; margin: 0 auto;"><div style="font-family: 'times new roman', times; font-size: 10pt;"><table style="width: 90%; margin-left: auto; margin-right: auto; font-family: 'times new roman'; font-size: 10pt;" class="mce-item-table"><tr><td style="width: 100%; text-align: center;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="float: left;" alt="Graphics"></td></tr></table><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p><p style="font-size: 10pt; margin: 0pt;"><font style="color: #000000; font-family: 'Century Gothic', sans-serif; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Exhibit IV - <a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" name="BEIV_TTQ9564BPC00000000000000000000" class="customBookmark">Allocation of net income proposal for the fiscal year, pursuant to Annex 9-1-II of CVM Instruction 481/09</a></font><br></p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 23px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 10px;"><td height="34" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: left; width: 69%;"><font style="font-size: 9pt;">(in thousands of <font class="font6">Reais</font><font class="font5">, except when otherwise mentioned)</font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: normal; text-align: center; background: #333399; height: 10px; width: 30%;"><font style="font-size: 9pt;">Year ended</font><br><font style="font-size: 9pt;">12/31/2021</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 508px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 10px;"><td height="18" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 10px;"></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: 1pt solid windowtext; white-space: nowrap; text-align: left; width: 69%;"><font style="font-size: 9pt;">1.&nbsp;&nbsp;&nbsp;Inform net income for the fiscal year&#185;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: 1pt solid windowtext; white-space: nowrap; height: 13px; width: 30%;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>850,464</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 25px;"><td height="34" dir="LTR" style="height: 25px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">2.&nbsp;&nbsp;&nbsp;Inform the total amount of dividends and dividends per share, including prepaid dividends and interest on equity already declared&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 25px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 25px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" dir="LTR" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: right;"><font style="font-size: 9pt;">Total amount</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>403,970</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Interim dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.20</font></td></tr><tr style="height: 10px;"><td height="18" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Complementary dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 10px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.17</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 12px;"><td height="17" style="height: 12px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: normal; text-align: left;"><font style="font-size: 9pt;">3.&nbsp;&nbsp;&nbsp;Inform the percentage of distribution of net income for the fiscal year&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 12px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: nowrap; text-align: right; height: 12px;"><font style="font-size: 9pt;">48%</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 26px;"><td height="35" style="height: 26px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">4.&nbsp;&nbsp;&nbsp;Inform the total amount of dividends and dividends per share based on the net income of previous years</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 26px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 26px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" dir="LTR" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: right;"><font style="font-size: 9pt;">Total amount</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Interim dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 21px;"><td height="29" style="height: 21px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">5.&nbsp;&nbsp;&nbsp;Inform, deducting prepaid dividends and interest on equity declared</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 21px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 21px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 27px;"><td height="36" style="height: 27px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The gross amount of dividends and interest on equity, individually, based on the number of shares of each type and class</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 27px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 27px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Gross amount - Dividends common shares</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form and term of dividend and interest on equity payments</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Form of payment</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Payment term</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any levy of monetary restatement and interest on dividends and interest on equity</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 40px;"><td height="54" style="height: 40px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date of declaration of payment of dividends and interest on equity taken into account for identification of shareholders entitled to receive dividends and interest on equity</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 40px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; height: 40px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 25px;"><td height="34" style="height: 25px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">6.&nbsp;&nbsp;&nbsp;In the event of dividends or interest on equity declared based on net income with respect to semiannual balance sheets or shorter periods</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 25px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 25px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inform the total amount of dividends or interest on equity declared</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>218,074</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inform the date of the respective payments</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">08/27/2021</font></td></tr></table></div></div></div><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><br></font></p><div><table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;" class="mce-item-table"><tr><td class="pgno" style="padding: 0px; text-align: center;"><br></td></tr></table><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr><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="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><br></font></p><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><font style="color: #000000; font-family: 'Century Gothic', sans-serif; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Exhibit IV - Allocation of net income proposal for the fiscal year, pursuant to Annex 9-1-II of CVM Instruction 481/09</font></font></p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 23px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 10px;"><td height="34" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: left; width: 69%;"><font style="font-size: 9pt;">(in thousands of <font class="font6">Reais</font><font class="font5">, except when otherwise mentioned)</font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: normal; text-align: center; background: #333399; height: 10px; width: 30%;"><font style="font-size: 9pt;">Year ended</font><br><font style="font-size: 9pt;">12/31/2021</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p><div style="font-family: 'times new roman', times; font-size: 10pt;"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 833px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0px;" class="mce-item-table"><tr style="height: 30px;"><td height="40" style="height: 30px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left; width: 69%;"><font style="font-size: 9pt;">7.&nbsp;&nbsp;&nbsp;Provide a comparative table indicating the following value per share of each type and class</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 30px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 30px; width: 30%;"><br></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><br></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income for the fiscal year and for the three (3) previous years&#178;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><br></td></tr><tr style="height: 10px;"><td height="18" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - 12.31.2021</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 10px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.78</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - 12.31.2020</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.82</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - 12.31.2019</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.34</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - 12.31.2018</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>1.06</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest on equity distributed in the three (3) previous years&#179;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">12.31.2020</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>479,748</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Interim dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Complementary dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.44</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">12.31.2019</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>478,851</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Interim dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.20</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Complementary dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.24</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">12.31.2018</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>684,565</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Interim dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.28</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">Amount per common shares (R$) - Complementary dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>0.35</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 10px;"><td height="18" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 36px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: left;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 10px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">8.&nbsp;&nbsp;&nbsp;If there is destination of income to the legal reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identify the amount allocated to legal reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>42,523</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 207px;"><td height="276" style="height: 207px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>Detail the method for the calculation of the legal reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 207px;"></td><td style="padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; text-align: justify; height: 207px;"><font style="font-size: 9pt;">Article 193 - Brazilian Corporate Law - Of the net income for the fiscal year, 5% will be allocated, prior to any other destination, to the legal reserve, which shall not exceed 20% of the share capital. <font class="font6">ARTICLE 54 BYLAWS</font><font class="font5"> After the balance sheet and the other financial statements are prepared, and after the deduction of accrued losses, the provision for income tax and, if applicable, the provision for directors&#8217; and executive officers&#8217; annual profit sharing, five percent (5%) of the net<font style="mso-spacerun: yes;">&nbsp; </font>profit will be allocated to the legal reserve, up to the limit of twenty percent (20%) of the capital stock.</font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 28px;"><td height="38" style="height: 28px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">9.&nbsp;&nbsp; If the company has preferred shares entitled to receive fixed or minimum dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 28px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 28px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Describe the method for calculation of fixed or minimum dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 27px;"><td height="36" style="height: 27px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inform whether the net income for the fiscal year is sufficient to fully pay fixed or minimum dividends</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 27px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 27px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identify if any unpaid portion is cumulative</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 26px;"><td height="36" style="height: 26px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identify the total amount of fixed or minimum dividends to be paid with respect to each class of preferred shares</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 26px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 26px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 27px;"><td height="36" style="height: 27px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identify fixed or minimum dividends to be paid with respect to each class of preferred shares</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 27px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 27px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr></table></div><p style="font-size: 10pt; margin: 0pt;"><br></p></div><div><table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;" class="mce-item-table"><tr><td class="pgno" style="padding: 0px; text-align: center;"><br></td></tr></table><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr><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="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><br></font></p><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><font style="color: #000000; font-family: 'Century Gothic', sans-serif; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Exhibit IV - Allocation of net income proposal for the fiscal year, pursuant to Annex 9-1-II of CVM Instruction 481/09</font><br></font></p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 23px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 10px;"><td height="34" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: left; width: 69%;"><font style="font-size: 9pt;">(in thousands of <font class="font6">Reais</font><font class="font5">, except when otherwise mentioned)</font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: normal; text-align: center; background: #333399; height: 10px; width: 30%;"><font style="font-size: 9pt;">Year ended</font><br><font style="font-size: 9pt;">12/31/2021</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p><div style="font-family: 'times new roman', times; font-size: 10pt;"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 678px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left; width: 69%;"><font style="font-size: 9pt;">10. &nbsp; With respect to the mandatory dividend</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; width: 30%;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 216px;"><td height="289" style="height: 216px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe the method for calculation set in the bylaws</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 216px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; text-align: justify; height: 216px;"><font style="font-size: 9pt;">Bylaws - Article 54. After the balance sheet and the other financial statements are prepared, and after the deduction of accrued losses, the provision for income tax and, if applicable, the provision for directors&#8217; and executive officers&#8217; annual profit sharing, five percent (5%) of the net<font style="mso-spacerun: yes;">&nbsp; </font>profit will be allocated to the legal reserve, up to the limit of twenty percent (20%) of the capital stock. &#167;1 The remaining profit will have the following destination: a) fifty percent (50%) for payment of the mandatory dividend to the shareholders, deducted by semiannual or interim dividends that may have already been distributed.</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>Inform if the dividend is being fully paid</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 13px;"><font style="font-size: 9pt;">Yes</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inform the amount eventually retained</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 28px;"><td height="38" style="height: 28px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">11.&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>In the event of retained mandatory dividend due to the company&#8217;s financial condition</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 28px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 28px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inform the retained amount</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 27px;"><td height="36" style="height: 27px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe, in details, the company&#8217;s financial condition, including any aspects relating to the liquidity analysis, working capital and positive cash flow</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 27px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 27px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justify the retaining of dividend</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 28px;"><td height="38" style="height: 28px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">12.&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>In the event of destination of net income to the contingency reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 28px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 28px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identify the amount allocated to the reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identify any probable loss and the reason therefore</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Explain why the loss is considered probable</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justify the establishment of the reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 28px;"><td height="38" style="height: 28px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">13. &nbsp; In the event of destination of net income to the unrealized profit reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 28px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 28px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identify the amount allocated to the profit reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inform the nature of unrealized profits which originated the reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr></table></div><p style="font-size: 10pt; margin: 0pt;"><br></p></div><div><table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;" class="mce-item-table"><tr><td class="pgno" style="padding: 0px; text-align: center;"><br></td></tr></table><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr><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="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><br></font></p><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 9pt; font-family: 'times new roman', times;"><font style="color: #000000; font-family: 'Century Gothic', sans-serif; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Exhibit IV - Allocation of net income proposal for the fiscal year, pursuant to Annex 9-1-II of CVM Instruction 481/09</font><br></font></p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="height: 23px; border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;" class="mce-item-table">   <tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 10px;"><td height="34" style="height: 10px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: left; width: 69%;"><font style="font-size: 9pt;">(in thousands of <font class="font6">Reais</font><font class="font5">, except when otherwise mentioned)</font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 10px; width: 1%;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: 1pt solid windowtext; white-space: normal; text-align: center; background: #333399; height: 10px; width: 30%;"><font style="font-size: 9pt;">Year ended</font><br><font style="font-size: 9pt;">12/31/2021</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p><div style="font-family: 'times new roman', times; font-size: 10pt;"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px; height: 776px;" class="mce-item-table">   <tr style="height: 15px;"><td height="20" style="height: 15px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left; width: 69%;"><font style="font-size: 9pt;">14.&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>In the event of destination of net income to statutory reserve<font class="font6"><sup>4</sup></font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; width: 1%; height: 15px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; width: 30%; height: 15px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Describe the statutory clauses which establish the reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 13px;"><font style="font-size: 9pt;">Bylaws - Article 54 - item b)</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 15px;"><td height="21" style="height: 15px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identify the amount allocated to the reserve<font class="font7"><sup>5</sup></font></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 15px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: right; height: 15px;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>415,612</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: left;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 245px;"><td height="338" style="height: 245px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Describe how the amount was calculated</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 245px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; text-align: justify; height: 245px;"><font style="font-size: 9pt;">At the proposal of the management bodies, up to 50% (fifty percent) of adjusted net income may be used to create an investment reserve, aimed at protecting the integrity of the Company&#180;s assets and strengthen its capital stock, in order to allow new investments to be made, up to the limit of one hundred percent (100%) of the capital stock, provided that the balance of such reserve, when combined with other profit reserve balances, except for the unrealized profit reserve and the contingency reserves, shall not exceed one hundred percent (100%) of the capital stock and, once such limit is reached, the shareholders&#8217; meeting shall determine the allocation of the surplus through an increase of the capital stock or in the distribution of dividends.</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: #ffffff; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: normal; text-align: center; height: 13px;"></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">15.&nbsp;<font style="mso-spacerun: yes;">&nbsp; </font>In the event of retention of profits under the capital budget</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identify the amount retained</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provide a copy of the capital budget</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: center; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 28px;"><td height="38" style="height: 28px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: bold; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">16.&nbsp;&nbsp;&nbsp;In the event of destination of net income to the tax incentive reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 28px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 28px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Identify the amount allocated to the reserve</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; text-align: justify;"><font style="font-size: 9pt;">&nbsp;</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: none; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: normal; text-align: left;"><font style="font-size: 9pt;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Explain the nature of the destination</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding: 1px 10px 0px 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border-top: none; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-image: initial; white-space: nowrap; height: 13px; text-align: right;"><font style="font-size: 9pt;"><font style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>-<font style="mso-spacerun: yes;">&nbsp;&nbsp; </font></font></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td></tr><tr style="height: 13px;"><td height="18" style="height: 13px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"><font style="font-size: 9pt;">&#185; Net income of Ultrapar's shareholders.</font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 13px;"><font style="font-size: 9pt;">&nbsp;</font></td></tr><tr style="height: 5px;"><td height="6" style="height: 5px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 5px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 5px;"></td></tr><tr style="height: 99px;"><td colspan="3" height="132" style="height: 99px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 9pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"><font style="font-size: 9pt;">&#178; Number of shares used for the income per share calculation does not include shares held in treasury of the Company. The value per share consider, for all periods shown, the stock split of common shares at a ratio of one currently existing share to two shares of the same class and type and approved by the Annual Shareholders' Meeting on April 10, 2019. The amount of stocks used to calculate the value per share consider the issuance of 2,108,542 common shares approved by the Company&#8217;s Board of Directors Meeting on February 19, 2020, issuance of 86,978 common shares approved by the Company&#8217;s Board of Directors Meeting on August 12, 2020, issuance of 70,939 common shares approved by the Company&#8217;s Board of Directors Meeting on February 24, 2021, issuance of 31,032 common shares approved by the Company's Board of Directors Meeting on August 11, 2021 and the issuance of 43,925 common shares approved by the Company'd Board of Directors Meeting on February 23, 2022.<font style="mso-spacerun: yes;">&nbsp;&nbsp;</font></font></td></tr><tr style="height: 5px;"><td height="6" style="height: 5px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify; height: 5px;"><font style="font-size: 9pt;"><sup></sup></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify; height: 5px;"><font style="font-size: 9pt;"><sup></sup></font></td></tr><tr style="height: 38px;"><td colspan="3" height="51" style="height: 38px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"><font style="font-size: 9pt;">&#179; Number of shares used for the income per share calculation does not include shares held in treasury of the Company. The value per share consider, for all periods shown, the stock split of common shares at a ratio of one currently existing share to two shares of the same class and type and approved by Annual Shareholders' Meeting on April 10, 2019.</font></td></tr><tr style="height: 5px;"><td height="6" style="height: 5px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify; height: 5px;"><font style="font-size: 9pt;"><sup></sup></font></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify; height: 5px;"><font style="font-size: 9pt;"><sup></sup></font></td></tr><tr style="height: 31px;"><td colspan="3" height="42" style="height: 31px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"><font style="font-size: 9pt;"><font class="font7"><sup>4 </sup></font><font class="font5">Investments statutory reserve made in accordance with Article 194 of the Brazilian Corporate Law and item b of Article 54 of the Company's Bylaws in order to preserve the integrity of corporate assets and strengthen the Company's capital, allowing new investments.</font></font></td></tr><tr style="height: 5px;"><td height="6" style="height: 5px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 5px;"></td><td style="padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: bottom; border: none; white-space: nowrap; height: 5px;"></td></tr><tr style="height: 51px;"><td colspan="3" height="69" style="height: 51px; padding-top: 1px; padding-right: 1px; padding-left: 1px; color: windowtext; font-size: 10pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: 'Century Gothic', sans-serif; vertical-align: middle; border: none; white-space: normal; text-align: justify;"><font style="font-size: 9pt;"><font class="font7"><sup>5</sup></font><font class="font5"> The amount includes the realization of revaluation reserve, net of income tax and social contribution, in the amount of R$ 183 thousand, in addition to gains arising from payments of fixed dividends to preferred shares of subsidiaries in the amount of R$ 972 thousand and write-off of prescribed dividends in the amount of R$ 10,487 thousand.&nbsp;</font></font></td></tr></table></div><p style="font-size: 10pt; margin: 0pt;"><br></p></div><div><table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;" class="mce-item-table"><tr><td class="pgno" style="padding: 0px; text-align: center;"><br></td></tr></table><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr><div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div></div><div style="font-family: 'times new roman', times; font-size: 10pt;"><br></div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="font-size: 10pt; margin: 0pt;"><br></p>
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<div style="margin: 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bex5_LQZC67YKZK00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit V &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Information regarding the candidate for member of the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and the candidates for the Fiscal Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> appointed </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">or supported </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">by management, pursuant to items 12.5 to 12.10 of the Reference Form</font></a></div>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="12" type="1" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual General Shareholders&#8217; Meeting (&#8220;AGM&#8221;) and Management</font></li>
</ol>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.5.</font><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Information about the candidates for the Board of Directors and the Fiscal Council appointed or supported by management</font></p>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 122px; width: 100%;" width="100%">

<tr style="height: 60px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Name</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.75pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Date of birth</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Profession</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">CPF</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Elective position to be held</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Expected election and investiture date</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Term of office</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Other positions held in the issuer</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.65pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Was elected by the Controller</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 60px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Consecutive Terms</font></p>
</td>
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<tr style="height: 62px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Frederico Pinheiro Fleury Curado</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.75pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">10/22/1961</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Engineer</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">267.002.121-20</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Board of Directors (effective)</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.65pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; height: 62px;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">0</font></p>
</td>
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</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Council</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 40.6pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Name</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Date of birth</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Profession</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">CPF</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Elective position to be held</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Expected election and investiture date</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Term of office</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Other positions held in the issuer</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Was elected by the Controller</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle; width: 10%; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Consecutive Terms</font></p>
</td>
</tr>
<tr style="height: 40pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Flavio C&#233;sar Maia </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Luz</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">07/27/1951</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Engineer</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">636.622.138-34</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">)</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">1</font></p>
</td>
</tr>
<tr style="height: 49.9pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">M&#225;rcio</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> Augustus </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Ribeiro</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">12/27/1954</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Engineer</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">006.211.088-80</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Fiscal Council (alternate)</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">15</font></p>
</td>
</tr>
<tr style="height: 44.05pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Geraldo </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Toffanello</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">10/12/1950</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Accountant</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">075.257.060-72</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">) </font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">5</font></p>
</td>
</tr>
<tr style="height: 50pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Pedro </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Ozires</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Predeus</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">05/04/1944</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Accountant</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">005.474.508-00</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Fiscal Council (alternate)</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">17</font></p>
</td>
</tr>
<tr style="height: 46.1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Nilson Martiniano Moreira</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">07/26/1968</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Economist</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">583.491.386-53</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Member of the Fiscal Council (</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">effective</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">)</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Up</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">to</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> 2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">No</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">0</font></p>
</td>
</tr>
<tr style="height: 47.1pt;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Sandra Regina de Oliveira</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">10/12/1961</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">Statistician</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; 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; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">057.186.378-73</font></td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Member of the Fiscal Council (alternate)</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">04/13/2022</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';">Up</font><font style="color: #000000; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';"><font>&nbsp;</font></font><font style="color: #000000; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';">to</font><font style="color: #000000; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Century Gothic';"><font>&nbsp;</font>2023 AGM</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">-</font></p>
</td>
<td colspan="2" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">No</font></p>
</td>
<td colspan="3" style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: middle;" valign="middle">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #000000; font-family: 'Century Gothic'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company informs that all members appointed hereby to the Fiscal Council are considered independent members, pursuant to article 162 and paragraphs of the Brazilian Corporate Law.</font></p>
</div>
<table style="font-size: 10pt; width: 100%; font-family: 'times new roman';">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<div><hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<ol type="i" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: bold; line-height: 115%; list-style-position: inside; margin: 0pt 0pt 6pt 11.78pt; text-align: justify; text-indent: -11.78pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main professional experiences over the last 5 years</font></li>
</ol>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 6pt 54pt; text-align: justify; text-indent: -54pt;"><font style="font-family: Wingdings; font-size: 9pt;">&#61558;</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors - Effective member</font></p>
<ul type="square" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 12.18pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Frederico Pinheiro Fleury Curado</font></li>
</ul>
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<tr style="height: 60.1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 95.7pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 125.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 117.05pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 132.8pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 95.7pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 8.5pt; padding-right: 3.5pt; vertical-align: middle; width: 125.85pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Vice-President of the Board of Directors (2022&#8211;current) </font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the People Committee (2022&#8211;current)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Strategy Committee (2022&#8211;current) </font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Conduct Committee (2022&#8211;current)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chief Executive Officer (2017-2021)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 117.05pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 132.8pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 95.7pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">ICC</font></p>
</td>
<td style="padding-left: 8.5pt; padding-right: 3.5pt; vertical-align: top; width: 125.85pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Executive Council (2013-2018)&nbsp;</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 117.05pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">International Chamber of Commerce</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 132.8pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 95.7pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Embraer</font></p>
</td>
<td style="padding-left: 8.5pt; padding-right: 3.5pt; vertical-align: top; width: 125.85pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chief Executive Officer (2007&#8211;2016)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive Vice-President for the commerce aviation market (1998 &#8211;2007)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive Vice-President of Planning and organizational development (1995 &#8211; 1998) </font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 117.05pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company in the aviation sector</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 132.8pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>

</table>
<p style="margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="margin: 0pt 0pt 6pt 54pt; text-align: justify; text-indent: -54pt;"><font style="font-family: Wingdings; font-size: 9pt;">&#61558;</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Effective members</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><br></p>
<ul type="square" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 12.18pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Flavio C&#233;sar Maia Luz </font></li>
</ul>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2021 &#8211; current)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Coordinator of the Audit and Risks Committee (2019 &#8211; 2021)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman of the Fiscal Council (2005 &#8211; 2019)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Livetech</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Ind&#250;stria e Com&#233;rcio S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Board of Directors and Audit Committee Coordinator (2021 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Technology company for data communication, security, energy and automation infrastructure</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Omega</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Energia S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Audit Committee (2021 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company that operates in the generation and commercialization of energy</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
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<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">CTC (Centro de Tecnologia Canavieira)</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Audit Committee (2021 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Technology company operating in the agricultural sector, focusing on sugarcane</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Linx</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2018 &#8211; 2021)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company dedicated to the production and management of software and payment methods for retail</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Duratex S.A.</font></p>
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<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
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<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman of the Fiscal Council (2018 &#8211; 2019)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Industry producing wood panels and building materials</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Marcopolo S.A.</font></p>
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<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
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<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Board of Directors (2016 &#8211; 2018)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Industry dedicated to the production of bus bodies, in Brazil and abroad</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ita&#250;sa S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2014 &#8211; 2020)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Holding company operating in the financial and industrial sector</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Soares Penido Obras Constru&#231;&#245;es e Investimentos S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman of the Board of Directors (2013 &#8211; 2021)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in the engineering and agricultural services sector</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">CTEEP S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2012 &#8211; 2020)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in the energy transmission segment</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<tr style="height: 15.75pt;">
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Brasanitas</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Empresa Brasileira de Saneamento Ltda.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Advisory Board (2012 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in the facilities services sector</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zen Ind&#250;stria Metal&#250;rgica S.A. </font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Board of Directors (2011 &#8211; 2021)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Auto </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">parts</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">industry</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
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<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ser Educacional S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Board of Directors (2010 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conglomerate of universities and educational institutions focused on college, graduation and technical courses</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
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<tr style="height: 16.55pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.1pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Doing</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Business Consultoria Empresarial Ltda.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Partner</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-Officer (2010 &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">current</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 0.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Business and corporate finance boutique</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 17.85pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 12.18pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Geraldo Tofanello </font></li>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman of the Fiscal Council (2019 &#8211; 2021)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effective member of the Fiscal Council (2017 &#8211; 2018; 2021 &#8211; current)</font></li>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Gerdau S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2015 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Publicly traded company with activities in the steel industry</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Metal&#250;rgica Gerdau S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Fiscal Council (2014 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Publicly</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">traded</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> holding </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Luzes do Mundo Ltda.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Founder</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company focused on lighting products &#8211; decorative and technical, representing renowned international brands</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 14.2pt; text-align: justify;"><br></p>
<ul type="square" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 12.18pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Nilson Martiniano Moreira</font></li>
</ul>
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<tr style="height: 60.1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effective member of the Fiscal Council (2016-2018)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
</td>
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<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cateno</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Gest&#227;o de Contas de Pagamentos S.A. </font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Risk, Compliance and Legal Director (2021)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Technology company, focused on the means of payment industry</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Banco Votorantim</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effective member of the Audit Committee (2020 &#8211; 2021)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">institution</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Banco do Brasil</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Various</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">positions</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (2006 &#8211; 2018)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">institution</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><br></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 14.2pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Alternate Members</font></p>
<ul type="square" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 5.08pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Marcio Augustus Ribeiro</font></li>
</ul>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 146px; width: 100%;" width="100%">

<tr style="height: 84px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000; height: 84px;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000; height: 84px;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000; height: 84px;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 144.85pt; border: 1pt solid #000000; height: 84px;">
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
</td>
</tr>
<tr style="height: 62px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 104.15pt; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 137.2pt; border: 1pt solid #000000; height: 62px;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Alternate member of the Fiscal Council (2007 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 127.55pt; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 144.85pt; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
</td>
</tr>

</table>
<ul type="square" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 5.08pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Pedro Ozires Predeus </font></li>
</ul>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">

<tr style="height: 60.1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 27.7187%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Alternate member of the Fiscal Council (2005 &#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 27.7187%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">ABRASCA &#8211; Associa&#231;&#227;o Brasileira de Companhias Abertas</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Evaluator of the ABRASCA Award for Best Annual Report &#8211; 4th year &#8211; (2012</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8211; current)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Non-profit association for the defense of publicly traded companies</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 27.7187%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Instituto Brasileiro de Governan&#231;a Corporativa &#8211; IBGC</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (2004</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8211; atual)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Activities of member organizations related to education, culture, art and defense of social rights</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 27.7187%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Alma Cl&#237;nica de Doen&#231;as Nervosas S/S Ltda.</font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Administrative</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officer (2013 &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">current</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Family medical </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">clinic</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 27.7187%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
</td>
</tr>
<tr style="height: 15.75pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 20.4415%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">PricewaterhouseCoopers</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (PWC) </font></p>
</td>
<td style="padding: 0px 4px 0px 8px; vertical-align: middle; width: 26.7375%; border: 1pt solid #000000;">
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Partner</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">retired</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">on</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 06/30/2004</font></li>
</ul>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25.0204%; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Audit</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<li style="font-family: Wingdings; font-size: 9pt; margin: 0pt 0pt 6pt 9.12pt; padding-left: 5.08pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Sandra Regina de Oliveira</font></li>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Position</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Main activity of the company</font></p>
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<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Company is part of the issuer&#8217;s economic group or is controlled by a shareholder that holds direct or indirect stake equal to or greater than 5%</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
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<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Alternate member of the Fiscal Council (2021 &#8211; current)</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Company operating in retail and specialized distribution, chemical specialties, and bulk storage</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Yes</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">PETROS &#8211; Funda&#231;&#227;o Petrobras de Seguridade Social </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Risks and Control Committee (2017 &#8211; 2019)</font></li>
<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive Manager of Risks, Internal Controls and Compliance (2016 &#8211; 2019)</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Supplementary pension plan for Petrobras employees</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Elopar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Participa&#231;&#245;es S.A.</font></p>
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<li style="font-family: Symbol; font-size: 9pt; margin: 0pt 0pt 0pt 7.15pt; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Member of the Risks Committee (2016)</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Holding company that consolidates results and enables the growth of the group companies</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">No</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 36pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">&nbsp;</font></p>
<ol start="2" type="i" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 14pt; padding-left: 4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Indicate all management positions held in other companies or third sector organizations:</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None. </font></p>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="14" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 12.92pt; padding-left: 5.08pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Events occurred over the last 5 years, related to:</font></li>
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<ol type="i" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: normal; line-height: 115%; margin: 0pt 0pt 6pt 14pt; padding-left: 4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">any criminal sentence</font></li>
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: normal; line-height: 115%; margin: 0pt 0pt 6pt 14pt; padding-left: 4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">any judgment in a CVM administrative proceeding and the penalties applied</font></li>
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-style: normal; font-weight: normal; line-height: 115%; margin: 0pt 0pt 6pt 14pt; padding-left: 4pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">any final and unappealable conviction at legal or administrative level, which has suspended the candidate in connection with the performance of any professional or business activity</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">m</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">embers of the Board of Directors and the Fiscal Council presented in this document informed the Company that there were no criminal convictions in CVM administrative proceeding or any other legal or administrative conviction that has suspended their ability or unqualified them to perform any professional or business activity.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.6.</font><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Percentage of participation in meetings held in the last term</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 6pt 54pt; text-align: justify; text-indent: -54pt;"><font style="font-family: Wingdings; font-size: 9pt;">&#61558;</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 10.65pt 8pt 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effective member</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Number of meetings held by the Board of Directors after taking office</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> participation of effective member in the meetings</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Frederico Pinheiro Fleury Curado&#185;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; Mr. Frederico Pinheiro Fleury Curado took office on January 3, 2022</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 6pt 54pt; text-align: justify; text-indent: -54pt;"><font style="font-family: Wingdings; font-size: 9pt;">&#61558;</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: Calibri; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: Calibri; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effective</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">member</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Number of meetings held by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> after taking office</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> participation of effective member in the meetings</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fl&#225;vio C&#233;sar Maia Luz</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Geraldo </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Toffanello</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 21.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mr. Nilson </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Martiniano</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Moreira was not an effective member of the Fiscal Council in the period shown in the table</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.7.</font><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Information about the members of statutory committees, the audit committee, the risk committee, the finance committee and the compensation committee, even if such committees or structures are not established by the Bylaws</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Mr. Frederico Pinheiro Fleury Curado, effective member of the Company&#8217;s Board of Directors, is also part of the People and Strategy Committees, as well as part of the Conduct Committee.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The candidates for the positions on the Fiscal Council do not have a position in any other body or committee of the Company or its subsidiaries.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.8.</font><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Percentage of participation of the members of statutory committees, the audit committee, the risk committee, the finance committee and the compensation committee, in the meetings held by the respective body in the same period, which occurred after tenure in office</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">People Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: Calibri; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effective member</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Number of meetings held by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">People</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> Committee after taking office</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> participation of the effective member in the meetings</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Frederico Pinheiro Fleury Curado&#178;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178; Mr. Frederico Pinheiro Fleury Curado took office on January 3, 2022&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Strategy Committee</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: Calibri; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effective member</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Number of meetings held by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Strategy </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Committee after taking office</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> participation of the effective member in the meetings</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Frederico Pinheiro Fleury Curado&#179;</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
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<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 21.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 21.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#179; Mr. Frederico Pinheiro Fleury Curado took office on February 23, 2022</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 21.6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 21.6pt; text-align: justify; text-indent: -21.6pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.9.</font><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Marital relationship, stable union or kinship up to the second degree between:</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<ol type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.46pt; padding-left: 4.54pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">the Company&#8217;s managers</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<ol start="2" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.46pt; padding-left: 4.54pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">) the Company&#8217;s officers and directors and (ii) the officers and directors of any of the Company&#8217;s subsidiaries, whether direct or indirect</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<ol start="3" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.28pt; padding-left: 4.72pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">) the Company&#8217;s or its subsidiaries&#8217; officers and directors, whether direct or indirect and (ii) the Company&#8217;s direct or indirect controlling shareholders</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="4" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.46pt; padding-left: 4.54pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">i</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">) the Company&#8217;s officers and directors, and (ii) the officers and directors of any of the Company&#8217;s controlling shareholders, whether direct or indirect</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">12.10.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Work or employment or service provision relationships, or other subordination relationships in the past three full years, tying any of registrant&#8217;s directors and officers to:</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<ol type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.46pt; padding-left: 4.54pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">any of the Company&#8217;s direct or indirect subsidiaries, except those in which the issuer holds, directly or indirectly, the entire share capital</font></li>
</ol>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<ol start="2" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.46pt; padding-left: 4.54pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">any of the Company&#8217;s direct or indirect controlling shareholders&nbsp;</font></li>
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">None.&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<ol start="3" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 115%; margin: 0pt 0pt 6pt 13.28pt; padding-left: 4.72pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">if material, any supplier, customer, debtor or creditor of the Company, its subsidiary or controlling shareholders or the subsidiaries of any of the foregoing</font></li>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<div style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Exhibit</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> VI &#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BEVI_NL4J6CXNYO00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Information about the management compensation, under the terms of</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">item 13 of the</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Reference Form</font></a></div>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13 - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Management Compensation</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.1. </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Describe the compensation policy or practice for the Board of Directors, Statutory and Non-Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers, Fiscal Council, statutory committees and risk, financial, compensation and audit committees, addressing the following aspects</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The purpose of Ultrapar&#8217;s Executive Compensation Policy is</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to establish compensation principles and criteria for the Company&#8217;s managers, ensuring the application of a competitive compensation strategy alianed with the best market practices and the interests of Ultrapar&#8217;s shareholders and other stakeholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The main objectives of such&nbsp;policy and practices adopted by Ultrapar&nbsp;to govern compensation of its management bodies include (i) to align executives&#8217; and shareholders&#8217; interests based on a philosophy of shared risks and rewards; (ii) to cause goals to converge on the Company&#8217;s long-term goals and sustainability; (iii) to foster autonomy and accountability, recognizing distinguished performance and reinforcing meritocracy; and (iv) to be competitive vis-&#224;-vis the relevant market, enabling attraction and retention of the best professionals to manage the Company. In line with these principles, Ultrapar embraces a competitive compensation plan that includes use of financial, operational and value creation metrics to establish variable compensation targets, benefits in line with market practices, and a long-term share-based incentive program</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s Executive Compensation Policy was approved by the Board of Directors on December 04, 2019 and amended on December 2, 2020,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and on February 23, 2022,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> after analysis and review by the People Committee. The document is available at ri.ultra.com.br, under the &#8216;Governance / </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bylaws, Codes and Policies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8217; section</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp; &nbsp;</font></p>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
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<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">f</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ees: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> monthly amount </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approved </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">by the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> General </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shareholders&#8217; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Meeting, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">intended to compensate for the responsibility and complexity inherent to the position, attempting to maintain levels compatible with the compensation of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">board members of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s peer companies. The Chairman and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Vice-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">shall </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">earn higher amounts than the other members because of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">higher responsibility inherent to their positions</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fees for participation in statutory committees: a monthly amount equivalent to one-third of Directors&#8217; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">monthly </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">fixed fees. Directors acting as committee coordinators shall earn a monthly amount equivalent to 50% of Directors&#8217; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">monthly </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">fixed fees. If a Director is appointed to more than one committee, the monthly compensation amount shall be limited to 50% of a Director&#8217;s fixed fees, regardless of the position held in the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. T</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">he Chairman of the Board of Directors shall not be entitled to additional compensation for participation in committees</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></li>
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In addition to the fees, the Company shall bear the respective social security contributions, where applicable</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Council</font></p>
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<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">f</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ees: a monthly amount as approved by the General Shareholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8217;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> intended </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to compensate for the responsibility and complexity </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">inherent to the position</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of member of the Fiscal Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, taking market benchmarks</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> parameters</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> into account</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, provided it is not </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">10% </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">lower than </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the average monthly salary attributed to the Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers. The Chairman shall earn </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">higher</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> amount</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> than the other members because of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">higher</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">responsibility </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">inherent to the position</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory Executive Officers</font></p>
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<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits: the Statutory Executive Officers&#8217; fixed compensation also includes social security contributions, vacation bonus, holiday bonus, healthcare, group life insurance and medical checkup, among others. The purpose of the direct and indirect benefits is to follow market practices and recognize individual contributions</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 6pt 0pt 0pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Variable compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></li>
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<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Short term: an annual amount paid to align the interests of the executives with those of the Company in the pursuit and attainment of results. This amount shall be pegged to financial and non-financial goals, aligned in any case with the Company&#8217;s Strategic Plan as approved by the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of 2022, executive officers shall consider at least 1/3 of the individual goals (or 10% of total) related to ESG purposes</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></li>
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Stock-based compensation: Ultrapar has since 2003 adopted stock-based compensation to foster the Company&#8217;s expansion and sustainable results and the attainment of its business goals, sharing value creation as well as the risks inherent to the business and the stock market, and promoting the alignment of the long-term </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">interests of shareholders, managers and employees. Pursuant to the s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tock</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> plan in force from 2017 up until December 31, 2020, two programs existed to ensure retention of the organization&#8217;s key executives and professionals and make a relevant portion of their compensation contingent on shareholder value generation. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Upon reviewing the Corporate Executive Compensation Policy approved by the Board of Directors in 2020, a program was created with the same purpose as the others, however including some changes in general conditions, specifically the discontinuation of the usufruct of restricted shares. The new terms and conditions defined in the policy have been applied since 2021. Under the review of the Corporate Executive Compensation Policy approved by the Board of Directors in 2020, the new long-term incentive agreements shall include the malus clause, which provides for the retention of the unvested shares upon verification of fraud or material mistakes in the financial statements that benefited the executive officer unlawfully. </font></li>
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Post-retirement benefit: to encourage long-term savings, Ultrapar has since 2001 offered a set-contribution supplementary pension plan managed by Ultraprev &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Associa&#231;&#227;o de Previd&#234;ncia Complementar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. According to the plan, each executive&#8217;s basic contribution is optional and calculated as a percentage of their salary. Ultrapar matches the basic contribution with an equal amount on behalf of the executive, limited to 11% of the monthly reference salary. Furthermore, in addition to contributions to the FGTS system, Ultrapar established in 2010 and revised in 2018 and 2020 an end-of-career policy intended to prepare executives for severance and to enable a planned and orderly succession process. The amount of the post-retirement benefit arising from this policy consists in potential additional compensation upon severance</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Committee</font></p>
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<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Committee membership: the members of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">People Committee &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">management </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">body </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">currently composed only Directors by &#8211; are entitled to a monthly amount</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">equivalent to one-third of the Directors&#8217; fees. The Director serving as Committee Coordinator shall receive a monthly amount equivalent to 50% of the Directors&#8217; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">monthly </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">fees</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial Risks Committee</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 6pt 0pt 0pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></li>
</ul>
<ul type="circle" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Committee membership: the Financial Risk Committee is composed of the Chief Financial and Investor Relations Officer (&#8220;CFO&#8221;), the Treasury Officer, the Controll</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ing and SSC</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officer and a minimum of two other officers at Ultrapar or its subsidiaries. Members of said committee do not earn any additional compensation for membership in this committee</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
</ul>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Conduct Committee</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 6pt 0pt 0pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></li>
</ul>
<ul type="circle" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Courier New'; font-size: 9pt; line-height: 14pt; margin: 0pt 0pt 6pt 56.7pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Committee membership: the Conduct Committee is composed of one external member, who acts as </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Chairman</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">and of four members of Ultrapar&#8217;s management</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">including </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the Risk, Compliance and Audit Officer. Committee members, with the exception of the external member, do not earn any additional compensation for membership in this committee. The external member earns monthly compensation based on market practices as compensation for the responsibilities and complexity inherent to the position and for the professional&#8217;s individual contributions and experience</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></li>
</ul>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Concerning the past 3 fiscal years, what was each component&#8217;s share of total compensatio</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">n</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The following table shows each component&#8217;s share of total management compensation in 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, broken down as per item 13.2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 190px; width: 100%;" width="100%">

<tr style="height: 18px;">
<td colspan="7" style="vertical-align: top; width: 508.15pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9.7pt; margin: 0pt 5pt 0pt 16.85pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">of the total compensation paid as</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: middle; width: 124.8pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Management Body</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fixed </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ompensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Severance-triggered benefit</font></p>
</td>
<td style="vertical-align: middle; width: 72.2pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Share-based compensation</font></p>
</td>
<td style="vertical-align: middle; width: 41.8pt; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 36px;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Board of Directors</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="line-height: 9.45pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fiscal Council</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">29%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">28%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Audit and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">People Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="line-height: 8.65pt; margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conduct Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The following table shows each component&#8217;s share of total management compensation in 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, broken down as per</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Item 13.2.</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 185px; width: 100%;" width="100%">

<tr style="height: 16px;">
<td colspan="7" style="vertical-align: top; width: 508.15pt; height: 16px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 5pt 0pt 16.85pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">of the total compensation paid as</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: middle; width: 124.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Management Body</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fixed </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ompensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Severance-triggered benefit</font></p>
</td>
<td style="vertical-align: middle; width: 72.2pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Share-based compensation</font></p>
</td>
<td style="vertical-align: middle; width: 41.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Board of Directors</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 14px;">
<td style="vertical-align: top; width: 124.8pt; height: 14px;">
<p style="line-height: 9.45pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fiscal Council</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 14px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">42%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">43%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Audit and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">People Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 124.8pt; height: 17px;">
<p style="line-height: 8.65pt; margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conduct Committee</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The following table shows each component&#8217;s share of total management compensation in 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, broken down as per </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Item 13.2.</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 192px; width: 100%;" width="100%">

<tr style="height: 20px;">
<td colspan="7" style="vertical-align: top; width: 508.15pt; height: 20px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt 5pt 0pt 16.85pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">% </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">of the total compensation paid as</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="vertical-align: middle; width: 131.9pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Management Body</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fixed </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ompensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.75pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="vertical-align: middle; width: 63.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="vertical-align: middle; width: 70.9pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Severance-triggered benefit</font></p>
</td>
<td style="vertical-align: middle; width: 72.2pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Share-based compensation</font></p>
</td>
<td style="vertical-align: middle; width: 41.8pt; height: 36px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 9.7pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="line-height: 9.7pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Board of Directors</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="line-height: 9.45pt; margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fiscal Council</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Strategy</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Committee</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Audit and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">People Committee</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Financial Risks Committee</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; width: 131.9pt; height: 17px;">
<p style="line-height: 8.65pt; margin: 0.1pt 0pt 0pt 3.45pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conduct Committee</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
<td style="vertical-align: top; width: 63.75pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 63.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 70.9pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 72.2pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
<td style="vertical-align: top; width: 41.8pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100%</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: &quot;times new roman&quot;; font-size: 10pt;">

<tr>
<td style="width: 4.90196%; text-align: center; font-family: 'Century Gothic';"><font style="font-weight: bold;">ii.</font></td>
<td style="width: 95.098%;"><font style="font-weight: bold; font-size: 9pt; font-family: 'Century Gothic';">Calculation and adjustment methodology for each compensation component</font><br></td>
</tr>

</table>
<p><br></p>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation: the fixed compensation of members of the Board of Directors is calculated taking into consideration the position&#8217;s responsibility and complexity, as well as the market survey of companies of a size, complexity and areas of activities similar to Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
</ul>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation: the fixed compensation of members of the Fiscal Council is reviewed annually, taking into account the compensation paid to the Statutory Executive Officers, and the market survey of companies of a size and complexity similar to Ultrapar. Additional details can be found in item 13.1.b.i. &#8220;Description and purpose of each compensation component&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></li>
</ul>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive Officers</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers&#8217; fixed and short-term variable compensations are set based on reference to the relevant market, applying a methodology to allocate value to positions in line with factors such as required knowledge, problem-solving, and potential impact on results. The sum of the fixed and short-term variable components is intended to maintain competitiveness relative to the relevant market, if the agreed targets are reached 100%</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation: reviewed annually taking market practices into consideration, as identified in salary surveys (considering companies of a size, complexity and areas of activities similar to Ultrapar and its </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">usinesses), as well as individual experience and responsibilities evolution. Benefits are aligned with market practices</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Short-term variable compensation: based on the profit-sharing concept, this component is planned as a salary multiple that varies according to the executive&#8217;s level and market reference. It is contingent on the attainment of the Company&#8217;s financial targets (70%) and individual targets (30%), all in line with the Strategic Plan as approved by the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of 2022, executive officers shall consider at least 1/3 of the individual goals (or 10% of total) related to ESG purposes.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">S</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tock</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> plan: the amount of shares to be allocated to executives is set annually by the Board of Directors. The amount allocated in 2021 takes into consideration the average share price of the 30 trading days preceding the granting of shares</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of 2022, the new long-term incentive agreements shall include the malus clause, which provides for the retention of the unvested shares upon verification of fraud or material mistakes in the financial statements that benefited the executive officer unlawfully.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Post-retirement benefit: to encourage long-term savings, Ultrapar has since 2001 offered a set-contribution supplementary pension plan managed by Ultraprev &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Associa&#231;&#227;o de Previd&#234;ncia Complementar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. According to the plan, each executive&#8217;s basic contribution is optional and calculated as a percentage of their salary. Ultrapar matches the basic contribution with an equal amount on behalf of the executive, limited to 11% of the monthly reference salary. Furthermore, in addition to contributions to the FGTS system, Ultrapar established in 2010 and revised in 2018 and 2020 an end-of-career policy intended to prepare executives for severance and to enable a planned and orderly succession process. The amount of the post-retirement benefit arising from this policy consists in potential additional compensation upon severance</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
</ul>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">People Committee</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Membership compensation: set based on Directors&#8217; fees, which in turn are based on market assessment of Ultrapar&#8217;s peer companies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
</ul>
<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Strategy Committee</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Membership compensation: set based on Directors&#8217; fees, which in turn are based on market <font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">assessment<font>&nbsp;</font></font>of Ultrapar&#8217;s peer companies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Audit and Risks Committee</font></p>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Membership compensation: set based on Directors&#8217; fees, which in turn are based on market <font style="color: #000000; font-family: 'Century Gothic'; font-size: 12px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">assessment<font>&nbsp;</font></font>of Ultrapar&#8217;s peer companies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Financial Risks Committee</font></p>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Membership compensation: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">m</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">embers of the Financial Risks Committee do not earn additional compensation for membershi</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">p</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 8pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Conduct Committee</font></p>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Membership compensation: </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">m</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">embers of the Conduct Committee, with the exception of the external member, do not earn additional compensation for membership. The external member earns compensation based on market practices, as discussed above</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 108%; margin: 0pt 0pt 8pt 27pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Reasons supporting the composition of the compensation</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company&#8217;s compensation strategy combines short- and long-term elements, and fixed and variable components that are balanced based on the principles of interests&#8217; alignment and competitive compensation. The aim is to retain executives, encourage superior performance, and provide appropriate compensation in line with the responsibilities assigned thereto and the value they create for the Company and its shareholders</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 108%; list-style-position: inside; margin: 0pt 0pt 8pt 27pt; text-align: justify; text-indent: -9pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">The existence of non-compensated members and supporting reasons</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">All members of the Company&#8217;s Board of Directors, Statutory</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officers and advisory committees to the Board of Directors earn compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Regarding the Fiscal Council, all effective members are compensated. The alternate members do not receive compensation, as they do not hold the positions or exercise any activity in the Company</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Except for the Conduct Committee&#8217;s external member, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">the other members of said Committee and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">members of the Financial Risks Committee do not earn additional compensation from the Company </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">or its controlled </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">companies </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">for membership</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">as it is understood that the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> received in the original position of each member already includes participation in other</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> management</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> bodies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Key performance indicators considered for the determination of each compensation component</font></li>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation: the position&#8217;s responsibilities and complexity, the professional&#8217;s experience and market practices</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Short-term variable compensation: (i) </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">annually</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, EBITDA and operating cash flow targets </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">are </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">set for each </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">usiness and</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Ultrapar,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> in line with the Strategic Plan approved by the Board of Directors, and (ii) individual goals, the majority of which are tangible and associated with the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">b</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">usiness&#8217;s operating and commercial performance, people development, and project execution, among other objectives, a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">re</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> similarly in line with the Strategic Plan as approved by the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Stock plan: performance evolution over time and expected contribution to the Company&#8217;s value creation. According to the stock plan in force since 2017, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">three</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> programs exist, one tied exclusively to executives&#8217; period of permanence with the Company, and the other </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">two </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">covering two equal tranches: one for retention, contingent on continued ties with the Company, and the other contingent on the attainment of financial targets previously set by the Board of Directors. Share grants in 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> were set based on economic value-added (EVA&#174;), in line with the Company&#8217;s Strategic Plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Post-retirement benefit: not tied to performance indicators</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 0pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">How compensation is structured to reflect the evolution of performance indicators</font></li>
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<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fixed compensation: based on periodical assessment of capability, ability and aptitude</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Short-term variable compensation: evolves according to the advancement of the Company&#8217;s results, and ranges from zero to 141% of the planned amount</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
<li style="font-family: Symbol; font-size: 8pt; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 28.35pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Stock plan: the potential benefit associated with the s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">tock</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> plan will be earned as executives remain with the Company in the long run and commit to sustained value creation. The tranche associated with the Company&#8217;s performance target is contingent on attainment of the target set, as described in item 13.1.c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></li>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">How the compensation policy or practices aligns with the issuer&#8217;s short, medium and long-term interests</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar&#8217;s compensation policy and practices are intended to provide short and long-term alignment with the interests of shareholders and with the Company&#8217;s sustainability. Short and long-term variable compensation, which make up a significant portion of total compensation, is tied to growth targets for results and economic value-added, in line with shareholders&#8217; interests. Variable compensation also directs professional focus to consistency with the Strategic Plan as approved by the Board of Directors. Short-term compensation is contingent on annual growth rates for financial results and priority matters for the Company (through individual targets). </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">To strengthen this commitment, as of</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;2022, executive officers shall consider at least 1/3 of the individual goals (or 10% of total) related to ESG purposes</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The stock plan turns executives into shareholders of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">c</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ompany and is a strong element for aligning long-term interests</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Existence of compensation supported by subsidiaries, controlled companies, or directly or indirectly controlling companies</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> </font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The entire compensation of the Company&#8217;s Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers has been supported by subsidiaries or controlled entities in the past three fiscal years because of the activities they carry out as executive managers thereof. For a breakdown of amounts supported by each subsidiary or controlled entity and the nature of such payments see item &#8220;13.15. Amounts recognized in the results of the Company&#8217;s directly or indirectly controlling companies, companies under shared control and subsidiaries, as compensation to the members of the Company&#8217;s Board of Directors, the Fiscal Council or the Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Existence of compensation or benefits tied to the occurrence of specific corporate events, such as transfer of the issuer&#8217;s controlling equity stake</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The long-term incentive programs granted until 2020 do not provide for compensation or benefit subject to corporate events. As of 2021, in conformity with the version of the Corporate </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Compensation Policy approved by the Board of Directors on December 2, 2020, such compensation or benefit is possible.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Practices and procedures adopted by the Board of Directors to set the individual compensation of the Board of Directors and Statutory Executive Officers, indicating</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">: </font></li>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 108%; margin: 0pt 0pt 8pt 27pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">The issuer&#8217;s bodies and committees that take part in the decision-making process, identifying in what way they participate</font></li>
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 108%; margin: 0pt 0pt 8pt 27pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Criteria and methodology used to set individual compensation, indicating if there are studies for verifying market practices and if positive, the criteria for comparison and coverage of these studies</font></li>
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 108%; margin: 0pt 0pt 8pt 27pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">How often and in what manner does the Board of Directors review the suitability of the issuer&#8217;s compensation policy</font></li>
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<p style="line-height: 14pt; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar carries out annual studies and analyses of the Administration&#8217;s compensation under the purview of the People Committee, which also reviews the parameters and the guidelines of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Corporate </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive Compensation Policy and other benefits allocated to managers. After making changes as needed, Committee prepares compensation proposals for submission to the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="line-height: 14pt; margin: 0pt 0pt 6pt 18pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company&#8217;s studies aim to ensure the competitiveness of the compensation for the Board of Directors and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive Officers and adopt market surveys as a benchmarking parameter for its practices</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, including, in this universe, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">peer companies</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (considering origin of capital, size, complexity, activity and reputation for compensation practices)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;&nbsp;</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 4.75pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.2 - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total c</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ompensation recognized to the members of the Board of Directors, the Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers and the Fiscal Council</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 4.75pt 0pt 8pt 8.15pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 678px; width: 100%;" width="100%">

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<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Projected compensation for the fiscal year 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> &#8211; Annual value (in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, except for number of members)</font></p>
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<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 39px; border: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 39px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
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<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 39px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
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<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 39px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
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<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 39px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL</font></p>
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<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total n</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">umber of members</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<tr style="height: 34px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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</tr>
<tr style="height: 21px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">290</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">058</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">806</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">154</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
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<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">190</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">282</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">806</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">278</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">636</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">636</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participation in committees</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">139</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">139</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 103px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 103px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 103px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 103px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 103px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 103px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bonus</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 51px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 51px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Compensation for the participation in </font></p>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">meetings</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 51px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 51px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 51px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 51px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Commission</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 18px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">571</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 21px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 21px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">571</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">197</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">197</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>
<tr style="height: 34px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation (including options)</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">365</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; border-bottom: 1px solid #a6a6a6; height: 34px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">365</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 69px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 69px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-bottom-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Note</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; height: 69px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-bottom-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; height: 69px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-bottom-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109pt; height: 69px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-bottom-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; margin-left: 0.1px; height: 69px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 26px; border: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 26px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">290</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 26px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">63</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">819</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109pt; height: 26px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">806</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 26px; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">74</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">916</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 22.9pt;">
<td colspan="6" style="background-color: #bfbfbf; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 472.8pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Compensation recognized </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">for </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">the fiscal year 2021 &#8211; Annual value (in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, except for number of members)</font></p>
</td>
</tr>
<tr style="height: 30pt;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total n</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">umber of members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
</tr>
<tr style="height: 17.1pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">680</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">684</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">758</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">123</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">509</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">196</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">758</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">463</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">086</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">086</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participation in committees</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">171</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">171</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">402</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">402</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 73.5pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17.1pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bonus</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Compensation for the participation in </font></p>
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">meetings</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Commission</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 15pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17.1pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">260</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">260</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>
<tr style="height: 17.1pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">978</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">978</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
</tr>
<tr style="height: 17.1pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation (including options)</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">061</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border-bottom: 1px solid #a6a6a6; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">061</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 50.25pt;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Note</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-left: 1pt solid #a6a6a6; border-top-color: #a6a6a6; border-right-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; border-left: 1pt solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21pt;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140.05pt; border: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">680</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">49</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">282</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">758</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83.05pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">60</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">720</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 723px; width: 100%;" width="100%">

<tr style="height: 29px;">
<td colspan="7" style="background-color: #bfbfbf; border-bottom: 0.5pt solid #000000; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 467.15pt; height: 29px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Compensation recognized for the fiscal year 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> &#8211; Annual value (in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, except for number of members)</font></p>
</td>
</tr>
<tr style="height: 39px;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border: 1px solid #000000; height: 39px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 39px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 39px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 39px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border: 1px solid #000000; height: 39px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 10px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total n</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">umber of members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 10px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">33</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 10px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 10px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 10px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">08</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">33</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">08</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">040</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">669</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">006</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">177</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">230</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">669</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">077</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">258</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">258</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participation in committees</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">119</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">119</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">550</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">550</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 97px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 97px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 97px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 97px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 97px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 97px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bonus</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 58px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 58px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Compensation for the participation in </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">meetings</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 58px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 58px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 58px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 58px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Commission</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">598</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 23px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">598</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation (including options)</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">892</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td colspan="2" style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 36px; border-bottom: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">892</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 66px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; height: 66px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Note</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 66px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 66px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 109.15pt; height: 66px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td colspan="2" style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; height: 66px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 27px;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 140pt; border-top: 1px solid #000000; border-right: 1px solid #000000; border-bottom: 1px solid #000000; border-image: initial; height: 27px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 27px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 27px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">37</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">857</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 109.15pt; border: 1px solid #000000; height: 27px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">669</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td colspan="2" style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border: 1px solid #000000; height: 27px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">47</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">823</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<tr style="height: 29px;">
<td colspan="5" style="background-color: #bfbfbf; border-bottom: 0.5pt solid #000000; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 99.8775%; height: 29px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Compensation recognized </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">for</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> the fiscal year 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> &#8211; Annual value (in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, except for number of members)</font></p>
</td>
</tr>
<tr style="height: 39px;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; height: 39px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; height: 39px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; height: 39px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; height: 39px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; height: 39px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOTAL</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total n</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">umber of members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 10px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 10px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 10px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 10px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 10px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">736</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">517</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">880</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">316</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">233</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">177</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">673</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">673</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Participation in committees</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">419</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">419</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">610</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">610</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 96px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 96px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 96px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 96px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 96px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Does not include provision for social charges that are the employer's onus, as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 96px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Bonus</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>
<tr style="height: 58px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 58px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Compensation for the participation in </font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">meetings</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 58px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 58px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 58px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 58px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Commission</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Description of other variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 36px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefit</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">941</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 23px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 23px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">941</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 36px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation (including options)</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">015</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; border-bottom: 1px solid #a6a6a6; height: 36px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; border-bottom: 1px solid #a6a6a6; height: 36px; border-top-color: #a6a6a6; border-left-color: #a6a6a6; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">015</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 65px;">
<td style="background-color: #d9d9d9; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; height: 65px; margin-left: 0.1px; border-left-width: 1px; border-left-style: solid; border-left-color: #000000; border-right-width: 1px; border-right-style: solid; border-right-color: #000000; border-right: 1px solid #a6a6a6;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Note</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; width: 19.8529%; height: 65px; margin-left: 0.1px; border-right: 1px solid #a6a6a6; border-top-color: #a6a6a6; border-bottom-color: #a6a6a6; border-left-color: #a6a6a6; vertical-align: top;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; height: 65px; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000; border-right: 1px solid #a6a6a6;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 19.8529%; height: 65px; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000; border-right: 1px solid #a6a6a6;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members determined as specified in the Of&#237;cio Circular/CVM/SEP/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</td>
<td style="background-color: #f2f2f2; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; height: 65px; margin-left: 0.1px; border-right-width: 1px; border-right-style: solid; border-right-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 25%; height: 26px; margin-left: 0.1px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; height: 26px; margin-left: 0.1px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">736</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.7304%; height: 26px; margin-left: 0.1px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">38</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">650</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 19.8529%; height: 26px; margin-left: 0.1px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="background-color: #bfbfbf; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 15.4412%; height: 26px; border: 1px solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">47</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">014</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
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<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
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<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.3. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation recognized in fiscal years 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and estimated compensation for fiscal year 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> of the Board of Directors, Fiscal Council and Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 39.2pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Officers</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Total</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td colspan="4" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 390.4pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, except for number of members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top;"></td>
</tr>
<tr style="height: 5.7pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">42</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Bonus</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 25.85pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 28.35pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 42.35pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the compensation plan assuming target attainment</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 11.8pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Profit-sharing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 23.9pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
</tr>
<tr style="height: 24.75pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
</tr>
<tr style="height: 35.05pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> compensation plan assuming target attainment</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">121</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">121</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
</tr>
<tr style="height: 23pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 6pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effectively recognized amount in 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
</tr>

</table>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considers only members to whom variable compensation has been allocated, as specified in Of&#237;cio Circular/CVM/SEP/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Regarding the portion related to the individual performance, the evaluation is performed between 80% and 120% of the goals achieved.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. Concerning the economic performance element, evaluation tracks value creation targets as measured by EVA. Maximum compensation is calculated based on attainment of 200% of economic value-added targets and 120% of individual targets</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 39.1pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Officers</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Total</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td colspan="4" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 390.4pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, except for number of members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top;"></td>
</tr>
<tr style="height: 5.7pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 17pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">33</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">08</font></p>
</td>
</tr>
<tr style="height: 23.25pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">75</font></p>
</td>
</tr>
<tr style="height: 9.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Bonus</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 25.8pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 28.3pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 39.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the compensation plan assuming target attainment</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 11.8pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Profit-sharing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21.3pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
</tr>
<tr style="height: 27.75pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">392</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">392</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
</tr>
<tr style="height: 35.95pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> compensation plan assuming target attainment</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">554</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">70</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">554</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">70</font></p>
</td>
</tr>
<tr style="height: 23pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 209.15pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt 5.5pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effectively recognized amount in 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 68.2pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52.8pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.6pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
</td>
</tr>

</table>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considers only members to whom variable compensation has been allocated, as specified in Of&#237;cio Circular/CVM/SEP/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Regarding the portion related to the individual performance, the evaluation is performed between 80% and 120% of the goals achieved. Concerning the portion related to the economic performance, the evaluation considers the EBITDA and Operational Cash Flow goals. The maximum compensation is calculated based on 150% of the economic performance goals and 120% of the individual goals</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 39.1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Officers</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Total</font></p>
</td>
</tr>
<tr style="height: 13.9pt;">
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 417.25pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, except for number of members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Bonus</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the compensation plan assuming target attainment</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effectively recognized amount</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Profit-sharing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
</td>
</tr>
<tr style="height: 21.65pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">580</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">55</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">580</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">55</font></p>
</td>
</tr>
<tr style="height: 24.55pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> compensation plan assuming target attainment</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">305</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">35</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">15</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">305</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">35</font></p>
</td>
</tr>
<tr style="height: 35.3pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effectively recognized amount in 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 80.5pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 62.05pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">44</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 55.6pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">44</font></p>
</td>
</tr>

</table>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considers only members to whom variable compensation has been allocated, as specified in Of&#237;cio </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Circular/CVM/SEP/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Regarding the portion related to the individual performance, the evaluation is performed between 80% and 120% of the goals achieved. Concerning the portion related to the economic performance, the evaluation considers the EBITDA and Operational Cash Flow goals. The maximum compensation is calculated based on 150% of the economic performance goals and 120% of the individual goals</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 39.1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Fiscal Council</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Officers</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Total</font></p>
</td>
</tr>
<tr style="height: 12.4pt;">
<td colspan="5" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 455.25pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, except for number of members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
</tr>
<tr style="height: 19.35pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Estimated number of members</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> 2022</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
</td>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Estimated number of compensated members </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2022&#185;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Bonus</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the compensation plan assuming target attainment</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Effectively recognized amount</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Profit-sharing</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Minimum under the compensation plan</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Zero</font></p>
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<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Maximum under the compensation plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">494</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">494</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">30</font></p>
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<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 212.65pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 0pt 5.4pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Provided under the 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> compensation plan assuming target attainment</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.75pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59.35pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 53.15pt; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">627</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Considers only members to whom variable compensation has been allocated, as specified in Of&#237;cio </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Circular/CVM/SEP/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Regarding the portion related to the individual performance, the evaluation is performed between 80% and 120% of the goals achieved. Concerning the portion related to the economic performance, the evaluation considers the EBITDA and Operational Cash Flow goals. The maximum compensation is calculated based on 150% of the economic performance goals and 120% of the individual goals&nbsp;&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.4. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Concerning the s</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">tock</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">-based compensation plan for the Board of Directors and Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> in force in the previous fiscal year and estimated for the ongoing fiscal year, describe</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">General terms and conditions</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar has since 2003 adopted a stock plan under which the executive has the beneficial ownership of shares held in treasury, after which the ownership of the shares is effectively transferred, for period</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">s</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of 5 to 7 years, provided that the relationship between the executive and the Company or its subsidiaries has not been interrupted. Said plan made its latest grants in 2017, and the vesting periods end in 2024</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annual and Extraordinary</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> held on April 19, 2017, Ultrapar&#8217;s shareholders approved a new stock-based incentive plan, which establishes the terms and general conditions for granting common shares issued by the Company held as treasury stock which may or may not involve awarding usufruct over any portion thereof for subsequent transfer of ownership for periods from 3 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to 6 years,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to officers or staff of the Company&nbsp;&nbsp; or&nbsp;&nbsp; of&nbsp;&nbsp; its&nbsp;&nbsp; subsidiaries.&nbsp;&nbsp; The&nbsp;&nbsp; information&nbsp;&nbsp; with&nbsp;&nbsp; respect&nbsp;&nbsp; to&nbsp;&nbsp; stock-based&nbsp;&nbsp; compensation&nbsp;&nbsp; included in this compensation plan reflects both plans</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The volume of shares and the beneficiary executives are determined by the Board of Directors, based on the People Committee&#8217;s recommendation. There is no mandatory annual compensation required. The number of shares to be used shall be subject to the availability of such shares in Treasury and shall be limited to 1% of the equity capital on the date of the plan&#8217;s approval, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">which</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">correspond</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ed</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to 11,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">128,102</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> shares</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The members of the Board of Directors are not eligible as beneficiaries of the stock plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">does</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">not</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">have</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">an active</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">stock option ownership plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="2" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Primary purposes of the plan</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The primary purposes of the Company&#8217;s stock-based incentive plans are as follows: (i) to encourage the Company&#8217;s expansion and sustainable results and attainment of its business targets, fostering alignment of the long-term interests of shareholders, managers and employees; and (ii) to reinforce the ability to effectively attract, retain and motivate highly qualified executives and employees</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Additional details are provided in items: Item 13.1.b. &#8220;Compensation Breakdown&#8221;, Item 13.1.c. &#8220;Main performance indicators used to determine each compensation component&#8221;, Item 13.1.d. &#8220;How compensation is structured to reflect evolving performance indicators&#8221;, and Item 13.1.e. &#8220;How the compensation policy or practice aligns with the issuer&#8217;s short, medium and long-term interests&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">How the plan contributes to achievement of these purposes</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See Item 13.1.b. &#8220;Compensation Breakdown&#8221;, Item 13.1.c. &#8220;Main performance indicators used to determine each compensation component&#8221;, Item 13.1.d. &#8220;How compensation is structured to reflect evolving performance indicators&#8221;, and Item 13.1.e. &#8220;How the compensation policy or practice aligns with the issuer&#8217;s short-, medium- and long-term interests&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<ol start="4" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">How the plan fits into the issuer&#8217;s compensation policy</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See Item 13.1.b. &#8220;Compensation Breakdown&#8221;, Item 13.1.c. &#8220;Main performance indicators used to determine each compensation component&#8221;, Item 13.1.d. &#8220;How compensation is structured </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">to reflect evolving performance indicators&#8221;, and Item 13.1.e. &#8220;How the compensation policy or practice aligns with the issuer&#8217;s short-, medium- and long-term interests&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">How the plan aligns the short, medium and long-term interests of the managers and the issuer</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">See Item 13.1.b. &#8220;Compensation Breakdown&#8221;, Item 13.1.c. &#8220;Main performance indicators used to determine each compensation component&#8221;, Item 13.1.d. &#8220;How compensation is structured to reflect evolving performance indicators&#8221;, and Item 13.1.e. &#8220;How the compensation policy or practice aligns with the issuer&#8217;s short-, medium- and long-term interests&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="color: #ff0000; font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="6" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Maximum number of shares considered</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The total number of shares to be awarded under the stock plan is subject to the presence of such shares held in treasury, and limited to 1% of the shareholders&#8217; equity on the date of the plan&#8217;s approval, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">which</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">correspond</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ed</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to 11,128,102</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;shares. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">For information on shares already awarded to the Company&#8217;s statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">officers, see Item 13.5. &#8220;Shares plan &#8211; information on shares awarded to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="7" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Maximum number of options to be awarded</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="8" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Conditions for acquisition of shares</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shares are awarded to executives in quantities previously set by the Board of Directors. Considering the two plans approved by the Company&#8217;s General Shareholders' Meeting held in 2003 and 2017, these shares shall remain as treasury shares for a period from three to seven years, during which executives may or may not enjoy usufruct rights over the shares. Securing full title over the shares depends on the completion of the period above and the maintenance of the executive&#8217;s ties with the Company or its subsidiaries during the period at hand</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Furthermore, performance shares may be granted, conveyance of which shall be contingent on the attainment of the Company&#8217;s financial targets over the duration of the vesting period. These shares are not subject to usufruct rights. The financial targets involved are previously set by the Board of Directors; the 2019 award of shares stipulated return on invested capital (ROIC) targets, whereas since 2020 the targets have been set based on economic value-added (EVA&#174;)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="9" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Criteria for setting the acquisition or exercise price</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Criteria for setting the exercise period</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="11" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Settlement method</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Restrictions to the transfer of shares</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shares are awarded to executives in quantities previously set by the Board of Directors. Considering the two plans approved by the Company&#8217;s General Meeting in 2003 and 2017, these shares shall remain as treasury shares for a period from three to seven years, during which executives may or may not enjoy usufruct rights over the shares. After this period and the conveyance of full title to the executives, shares may be freely traded. See 13.5. &#8220;Stock plan &#8211; information on shares awarded to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers&#8221;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The conveyance of title over performance shares awarded shall be contingent on the attainment of the Company&#8217;s financial goals over the course of the vesting period. If the targets previously set by the Board of Directors are not met, title over the performance shares shall not be conveyed. Only after the effective conveyance (vesting) of shares, may executives trade in them</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">As of 2022, the new long-term incentive agreements shall include the malus clause, which provides for the retention of the unvested shares upon verification of fraud or material mistakes in the financial statements that benefited the executive officer unlawfully</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="13" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Criteria and events which, upon verification, will trigger suspension, modification or cancellation of the plan</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Under the stock plan, beneficiaries may be awarded common share representing a maximum of 1% of the Company&#8217;s shareholders&#8217; capital on the date of approval of the shares plan by the General Meeting, which</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;corresponded to 11,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">128,102</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> common shares. Th</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">is</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">a</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">mount may be adjusted for any share bonuses, splits or reverse splits</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<ol start="14" type="a" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; line-height: 120%; list-style-position: inside; margin: 0pt 0pt 6pt 7.1pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Effects of the withdrawal of a manager from the Company&#8217;s bodies on their rights under the stock compensation plan</font></li>
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<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conveyance of full title over the shares is contingent on the non-interruption of ties between the executive and the Company or its subsidiaries for the duration of the period set forth in each agreement</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In the event of severance due to retirement, shall be conveyed to the executive, at a percentage share proportional to the vesting period run until severance, full title over restricted shares which has not yet been conveyed, but which usufruct, if applicable, may have been stablished. The same proportional concept shall apply to the performance shares, as long as the financial target has been attained. According to the policy review conducted in 2020 and effective from 2021, the same rule shall apply to terminations without cause</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In the event of permanent disability or death of the beneficiary, title over all restricted and performance shares awarded shall be conveyed</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">For awards </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">approved on </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021, in the event of corporate dissolution or reorganization resulting in a change in controlling equity stakes of the Company or the subsidiary that the executive is related, vesting will be anticipated and title over all restricted and performance shares shall be conveyed based on the achievement of the target of the referred executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.5. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock compensation plan &#8211; information on shares granted to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">At the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Annual and Extraordinary</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">General Shareholders&#8217; Meeting</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> held on April 19, 2017, Ultrapar&#8217;s shareholders approved a new stock-based incentive plan, which establishes the terms and general conditions for granting common shares issued by the Company held as treasury stock which may or may not involve awarding usufruct over any portion thereof for subsequent transfer of ownership for periods </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">from 3 to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> years,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> to officers or staff of the Company&nbsp;&nbsp; or&nbsp;&nbsp; of&nbsp;&nbsp; its&nbsp;&nbsp; subsidiaries.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The members of the Company&#8217;s Board of Directors shall not be eligible for the stock ownership plan. Furthermore, Ultrapar has no stock options awarding plans in place. The tables below summarize information on shares awarded and transferred to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers in the last three fiscal years, as well as estimated transfers during the ongoing fiscal year</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0.05pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 15.9pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="line-height: 14.95pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
<td colspan="2" style="vertical-align: top; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares awarded</font></p>
</td>
<td colspan="3" style="vertical-align: top; width: 160.05pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares conveyed</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total number of members</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td colspan="3" style="vertical-align: middle; width: 160.05pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of compensated members</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Granted/Transferred date</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2019</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2019</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2019</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11/08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2019</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2019</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of shares</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">108</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">444 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;&#178;</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">160</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">600</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">40</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">46</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">668</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Price assigned to the shares granted (R$/share)</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">42</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td rowspan="3" style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 106%; margin: 3.85pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Period for the share effective ownership to be transferred</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-22</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">September</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-25</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-23</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-24</font></p>
</td>
</tr>

</table>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0.05pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 15.9pt;">
<td style="vertical-align: middle; width: 183.5pt; border: 1pt solid #000000;">
<p style="line-height: 14.95pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td colspan="2" style="vertical-align: top; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares awarded</font></p>
</td>
<td colspan="3" style="vertical-align: top; width: 160.05pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares conveyed</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total number of members</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">75</font></p>
</td>
<td colspan="3" style="vertical-align: middle; width: 160.05pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">75</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of compensated members</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Granted/Transferred date</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2020</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">09</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2020</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2020</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2020</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2020</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of shares</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">185</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">808 &#179;</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">700</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">600 &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">262 &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">46</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">666 &#178;</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Price assigned to the shares granted (R$/share)</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">53</font></p>
</td>
<td style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">03</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">38</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td rowspan="3" style="vertical-align: top; width: 183.5pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 106%; margin: 3.85pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Period for the share effective ownership to be transferred</font></p>
</td>
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 57.2pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">September</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td rowspan="3" style="vertical-align: middle; width: 53.35pt; border: 1pt solid #000000;">
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">24</font></p>
</td>
</tr>
<tr style="height: 8.2pt;">
<td style="vertical-align: middle; width: 49.1pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font></p>
</td>
</tr>

</table>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 17.2pt;">
<td style="vertical-align: middle; width: 171pt; border: 1pt solid #000000;">
<p style="line-height: 14.95pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td colspan="2" style="vertical-align: top; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares awarded</font></p>
</td>
<td colspan="5" style="vertical-align: top; width: 261.95pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares conveyed</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total number of members</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
<td colspan="5" style="vertical-align: top; width: 261.95pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of compensated members</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: top; width: 55.15pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: top; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 51.85pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Granted/Transferred date</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">09</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
<td style="vertical-align: top; width: 55.15pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
<td style="vertical-align: top; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">04/04/2021</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
<td style="vertical-align: middle; width: 51.85pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/2021</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of shares</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">248</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">492 &#179;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">400</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font></p>
</td>
<td style="vertical-align: top; width: 55.15pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">33</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">334 &#178;</font></p>
</td>
<td style="vertical-align: top; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">45</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">600 &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">062 &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">262 &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.85pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">46</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">666 &#178;</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Price assigned to the shares granted (R$/share)</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
</td>
<td style="vertical-align: top; width: 55.15pt; border: 1pt solid #000000;">
<p style="margin: 6pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">72</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: top; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 6pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">34</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">35</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">38</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">19</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 51.85pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">32</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#178;</font></p>
</td>
</tr>
<tr style="height: 30.45pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 106%; margin: 3.85pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Period for the share effective ownership to be transferred</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">April</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-24</font></p>
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">September</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">-27</font></p>
</td>
<td style="vertical-align: middle; width: 55.15pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.65pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="vertical-align: middle; width: 51.85pt; border: 1pt solid #000000;">
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 17.2pt;">
<td style="vertical-align: middle; width: 171pt; border: 1pt solid #000000;">
<p style="line-height: 14.95pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td colspan="2" style="vertical-align: top; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 3.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Shares conveyed</font></p>
</td>
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<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total number of members</font></p>
</td>
<td colspan="2" style="vertical-align: middle; width: 106.3pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7.00</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of compensated members</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Granted/Transferred date</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/04/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">04</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of shares</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> &#185; &#178;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">33,334</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14,238</font></p>
</td>
</tr>
<tr style="height: 8.85pt;">
<td style="vertical-align: top; width: 171pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Price assigned to the shares granted (R$/share)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#178;</font></p>
</td>
<td style="vertical-align: middle; width: 49.6pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">32.72</font></p>
</td>
<td style="vertical-align: middle; width: 56.7pt; border: 1pt solid #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23.25</font></p>
</td>
</tr>

</table>
<p style="font-size: 8pt; line-height: 108%; margin: 6.05pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">The same number of shares may be conveyed to the Statutory </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Officers as performance shares, with conveyance contingent on the attainment of the Company&#8217;s economic and financial targets over the vesting period. No usufruct rights may be granted in connection with such shares</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">.</font></p>
<p style="font-size: 8pt; line-height: 108%; margin: 5.9pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">&#178; </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">The number of shares and their price upon awarding have been adjusted ex-post to reflect the 1:2 stock split approved at the Annual and Extraordinary General Meeting held April 10, 2019</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">.</font></p>
<p style="font-size: 8pt; line-height: 108%; margin: 5.9pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 5.33pt; vertical-align: super;">3</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">The number of performance shares that may be awarded to the Statutory </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Officers may vary between 0% to 150% of the restricted shares, conveyance of title being contingent upon the attainment of the Company&#8217;s economic and financial targets over the vesting period. No usufruct rights may be granted in connection with such shares</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.6. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Concerning stock options outstanding</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Not applicable, Ultrapar does not have a stock option plan</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.7. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock options exercised and shares granted in connection with the stock compensation plan for Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2019, (i) usufruct rights were granted over 268,444 shares to Statutory</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officers; and (ii) full title over 132</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">268 shares with usufruct rights granted in 2012 and 2014 conveyed to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 2020, (i) usufruct rights were granted over 885,808 shares to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers; and (ii) full title over 94,528 shares with usufruct rights granted in 2014 and 2017 conveyed to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">21</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, (i) usufruct rights were granted over </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">400</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> shares to Statutory</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officers; and (ii) full title over 13</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7,924</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> shares with usufruct rights granted in 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4, 2016, 2017</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultrapar has no outstanding stock options</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 19px;">
<td style="vertical-align: middle; width: 295.6pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.9pt; margin: 0.35pt 0pt 0pt 1.55pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.9pt; margin: 0.35pt 6.1pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.9pt; margin: 0.35pt 6.1pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 7.9pt; margin: 0.35pt 6.1pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2019</font></p>
</td>
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<tr style="height: 18px;">
<td style="vertical-align: middle; width: 295.6pt; height: 18px;">
<p style="margin: 1.2pt 0pt 0pt 1.55pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total number of members</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 18px;">
<p style="margin: 1.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 18px;">
<p style="margin: 1.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">75</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 18px;">
<p style="margin: 1.2pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="vertical-align: middle; width: 295.6pt; height: 19px;">
<p style="margin: 1.85pt 0pt 0pt 1.55pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 19px;">
<p style="margin: 1.85pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 19px;">
<p style="margin: 1.85pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 19px;">
<p style="margin: 1.85pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: middle; width: 295.6pt; height: 17px;">
<p style="margin: 0pt 0pt 0pt 1.55pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of shares granted</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">137</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">924</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">94</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">528</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 17px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">132</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">268</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="vertical-align: middle; width: 295.6pt; height: 25px;">
<p style="margin: 0pt 0pt 0pt 1.55pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Weighted average price of the transferred shares (R$/share)</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 25px;">
<p style="margin: 6pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 28</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">25</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">99</font></p>
</td>
<td style="vertical-align: bottom; width: 43.4pt; height: 25px;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">41</font></p>
</td>
</tr>
<tr style="height: 26px;">
<td style="vertical-align: middle; width: 295.6pt; height: 26px; border-bottom: 1pt solid #000000;">
<p style="line-height: 8pt; margin: 2.15pt 0pt 0pt 1.4pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Value gap between the acquisition price and the market value of the acquired shares</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 26px; border-bottom: 1pt solid #000000;">
<p style="line-height: 6.4pt; margin: 2.15pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 26px; border-bottom: 1pt solid #000000;">
<p style="line-height: 6.4pt; margin: 2.15pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="vertical-align: middle; width: 43.4pt; height: 26px; border-bottom: 1pt solid #000000;">
<p style="line-height: 6.4pt; margin: 2.15pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">R$</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<div>
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.8. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Information required for the understanding of items 13.5 to 13.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The price assigned to shares awarded corresponds to the market price of the Company&#8217;s share at the time of the award. Prices may be adjusted ex-post, as the case may be, to reflect the 1:2 stock split approved at the Annual and Extraordinary General Shareholders' Meeting held April 10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 2019. As previously reported, Ultrapar does not have a stock options plan in place</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In &#8220;Item 13.7. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Stock options exercised and shares awarded in connection with the shares plan for Statutory Officers&#8221;, the price assigned to the shares awarded corresponds to the book value of treasury shares, as specified in </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM/SEP&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Of&#237;cio Circular</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of 2022.</font></p>
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<br>
<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.9. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of shares or quotas and other securities convertible into shares or quotas issued by the Company directly or indirectly</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> held, in Brazil or abroad, by</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> controlling shareholders, controlled companies or companies under common control, whether directly or indirectly, by members of the Board of Directors, by Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers or by members of the Fiscal Council, broken down by corporate body</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">:</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 6pt 0pt 4pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The table below shows the number of shares directly or indirectly held by the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">current</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">members of the Board of Directors and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fiscal </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Council, or by Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers as of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 31, 2021.</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">

<tr style="height: 10.4pt;">
<td style="vertical-align: middle; width: 151.15pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.9pt; margin: 0.3pt 7.35pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total number of shares</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 8.9pt; margin: 0.3pt 0pt 0pt 9.35pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 14.9pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">954</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">590</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">24</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 9.15pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct ownership</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">853</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">127</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 16.7pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Indirect ownership</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">23</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">101</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">463</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">07</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 18.7pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">800</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">00%</font></p>
</td>
</tr>
<tr style="height: 13.1pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct ownership</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">800</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00%</font></p>
</td>
</tr>
<tr style="height: 18.7pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Indirect ownership</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">-</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00%</font></p>
</td>
</tr>
<tr style="height: 16.7pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">486</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">350</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 12.05pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct ownership</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#185;</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">60,2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">50</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">%</font></p>
</td>
</tr>
<tr style="height: 13.75pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Indirect ownership</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">26</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">100</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00%</font></p>
</td>
</tr>
<tr style="height: 22.5pt;">
<td style="vertical-align: middle; width: 151.15pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">27</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">44</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">40</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">46</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">%</font></p>
</td>
</tr>
<tr style="height: 13.9pt;">
<td style="vertical-align: middle; width: 151.15pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Shares representing the capital</font></p>
</td>
<td style="vertical-align: middle; width: 87.4pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">115</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">107</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">683</font></p>
</td>
<td style="vertical-align: middle; width: 40.7pt;">
<p style="margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0%</font></p>
</td>
</tr>
<tr style="height: 13.9pt;">
<td colspan="3" style="vertical-align: middle; width: 279.25pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Includes shares over which usufruct rights have been granted to Statutory </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Officers</font></p>
</td>
</tr>

</table>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The table does not contemplate changes in Ultrapar&#8217;s stock ownership since </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">December 31, 2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The incumbent members of the Board of Directors and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fiscal </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Council, and Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers do not hold equity stakes in subsidiaries or shared-controlled entities</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
</div>
</div>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.10. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Pension plans of the members of the Board of Directors and Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 344px; width: 100%;" width="100%">

<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 36px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 13.35pt 8pt 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Management</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;"> Body</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 36px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 36px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; text-decoration: underline;">Officers</font></p>
</td>
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<tr style="height: 23px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Total number of members</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 21px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of compensated members</font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 21px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 21px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Name of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">p</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">lan</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">ULTRAPREV &#8211; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Associa&#231;&#227;o de Previd&#234;ncia Complementar</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Set Contribution Plan</font></p>
</td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 16px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Number of members meeting retirement requirements</font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 16px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 16px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td rowspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 81px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Conditions for early retirement</font></p>
</td>
<td rowspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 81px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- 55 </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">years of age</font></p>
</td>
</tr>
<tr style="height: 25px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 25px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">M</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">inimum 5 years&#8217; employment with the sponsor</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">M</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">inimum 5 years&#8217; plan membership</font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">- </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Severance of employment ties with the sponsor</font></p>
</td>
</tr>
<tr style="height: 49px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Adjusted amount of accumulated contributions to the pension plan until the end of the last fiscal year, reduced by the portion related to contributions made directly by the members</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#179;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (in thousands of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">684</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">63</font></p>
</td>
</tr>
<tr style="height: 51px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 51px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Accumulated total amount of the contributions made during the last fiscal year, reduced by the portion related to contributions made directly by managers (in thousands of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 51px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 51px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">260</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">49</font></p>
</td>
</tr>
<tr style="height: 49px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 54.2892%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Possibility and conditions for early redemption</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 9.43627%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">N/A</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 49px; width: 36.152%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The plan includes an option of redemption upon termination of employment, even if not all conditions for retirement are met</font></p>
</td>
</tr>

</table>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 4pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 191.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
</td>
<td style="vertical-align: top;"></td>
</tr>
<tr style="height: 37.35pt;">
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 460.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">&#185; </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Only considers members under the retirement plan, as specified in </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">CVM/SEP&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Of&#237;cio Circular</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> of 2022</font><font style="font-family: 'Century Gothic'; font-size: 8pt;">.</font></p>
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 5.33pt; vertical-align: super;">2</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Managers who meet the conditions of age, period of employment and period of participation in the plan. Termination of employment is required for retirement</font><font style="font-family: Calibri; font-size: 8pt;">.</font></p>
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 5.33pt; vertical-align: super;">3</font><font style="font-family: 'Century Gothic'; font-size: 8pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 8pt;">Total amount of contributions made by the sponsor since affiliation with the plan, plus return</font><font style="font-family: Calibri; font-size: 8pt;">.</font></p>
</td>
</tr>

</table>
<p style="line-height: 1pt; margin: 0pt 0pt 8pt;"><br></p>
</div>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br></div>
</div>
<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<div style="width: 8.5in; margin: 0 auto;">
<div>
<p style="margin: 3.25pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="font-size: 9pt; line-height: 108%; margin: 4.6pt 72.15pt 8pt 8.3pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.11 </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&#8211;</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Maximum, minimum and average compensation of the Board of Directors, Fiscal Council and Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
<p style="margin: 3.8pt 0pt 0.8pt 8.3pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual value (in thousands of Brazilian </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, except for number of members)</font></p>
<p style="margin: 0.3pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 0px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%" border="1pt solid rgb(0, 0, 0)">

<tr>
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000;"><br></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; line-height: 108%; text-indent: 0px; text-align: center;" colspan="3"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">Statutory Executive Officers</font></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; line-height: 108%; text-indent: 0px; text-align: center;" colspan="3"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">Board of Directors</font></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; line-height: 108%; text-indent: 0px; text-align: center;" colspan="3"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">Fiscal Council</font></td>
</tr>
<tr>
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000;"><br></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; line-height: 108%; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2021</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2020</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2019</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2021</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2020</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2019</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2021</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2020</font></td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; background-color: #dcdcdc; margin: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold; ;color: black;">12/31/2019</font></td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000; height: 36px; width: 28%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total number of members</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">75</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">33</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">42</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 36px; margin: 0px; text-indent: 0px; width: 8%;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
</tr>
<tr style="height: 49px;">
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Number of compensated members</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">75</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">33</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">42</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 49px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
</tr>
<tr style="height: 62px;">
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Highest individual compensation (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">115</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">758</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">13</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">103</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">869</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">84</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">918</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">856</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">77</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">014</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">166</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">67</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">800</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">740</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">600</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">244</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">800</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">251</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">866</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">67</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">249</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">166</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">67</font></p>
</td>
</tr>
<tr style="height: 62px;">
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Lowest individual compensation (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">153</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">438</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">02</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">111</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">266</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">32</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">098</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">204</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">90</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">799</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">166</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">67</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">720</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">000</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">504</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">500</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">218</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">566</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">66</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">208</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">648</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">148</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">857</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
</tr>
<tr style="height: 62px;">
<td style="background-color: #dcdcdc; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border: 1pt solid #000000; height: 62px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Average individual compensation (</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">749</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">870</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">84</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">608</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">488</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">74</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">521</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">550</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">29</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">906</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">875</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">00</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">899</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">709</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">68</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">737</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">006</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">37</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">232</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">461</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">223</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">054</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">22</font></p>
</td>
<td style="padding: 0px 2px 0px 0px; vertical-align: middle; border: 1pt solid #000000; height: 62px; margin: 0px; text-indent: 0px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0px; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">273</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">585</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">56</font></p>
</td>
</tr>

</table>
<p style="margin: 0.3pt 0pt 0pt 7.1pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 8pt; line-height: 108%; margin: 0pt 0pt 0pt 8.2pt;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">Note</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="height: 74px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%" border="1pt solid rgb(0, 0, 0)">

<tr style="height: 17px;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 99.4505%; border: 1pt solid #000000; text-align: center; line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; height: 17px;" colspan="2"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold; orphans: 0; widows: 0; ;color: black;">Statutory Executive Officers</font></td>
</tr>
<tr style="height: 19px;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6431%; border: 1pt solid #000000; height: 19px;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: top; width: 85.8074%; border: 1pt solid #000000; height: 19px;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6431%; border: 1pt solid #000000; height: 19px;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: top; width: 85.8074%; border: 1pt solid #000000; height: 19px;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6431%; border: 1pt solid #000000; height: 19px;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: top; width: 85.8074%; border: 1pt solid #000000; height: 19px;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>

</table>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%" border="1pt solid rgb(0, 0, 0)">

<tr>
<td style="background-color: #dcdcdc; vertical-align: top; width: 100.111%; border: 1pt solid #000000; line-height: 9.85pt; margin: 1.8pt 13.8pt 0pt 14.6pt; text-align: center;" colspan="2"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold; orphans: 0; widows: 0; ;color: black;">Board of Directors</font></td>
</tr>
<tr style="height: 12.65pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6132%; border: 1pt solid #000000;">
<p style="line-height: 9.85pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: top; width: 86.4973%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 12.9pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6132%; border: 1pt solid #000000;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: top; width: 86.4973%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 12.9pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.6132%; border: 1pt solid #000000;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: top; width: 86.4973%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>

</table>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%" border="1pt solid rgb(0, 0, 0)">

<tr>
<td style="background-color: #dcdcdc; vertical-align: top; width: 99.7549%; border: 1pt solid #000000; line-height: 9.85pt; margin: 1.8pt 13.8pt 0pt 14.6pt; text-align: center;" colspan="2"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold; orphans: 0; widows: 0; ;color: black;">Fiscal Council</font></td>
</tr>
<tr style="height: 12.65pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.7255%; border: 1pt solid #000000;">
<p style="line-height: 9.85pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2021</font></p>
</td>
<td style="vertical-align: top; width: 86.0294%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 12.9pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.7255%; border: 1pt solid #000000;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2020</font></p>
</td>
<td style="vertical-align: top; width: 86.0294%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>
<tr style="height: 12.9pt;">
<td style="background-color: #dcdcdc; vertical-align: top; width: 13.7255%; border: 1pt solid #000000;">
<p style="line-height: 10.1pt; margin: 1.8pt 13.8pt 0pt 14.6pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">12</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">31</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">/</font><font style="font-family: 'Century Gothic'; font-size: 8pt; font-weight: bold;">2019</font></p>
</td>
<td style="vertical-align: top; width: 86.0294%; border: 1pt solid #000000;">
<p style="margin: 1.75pt 0pt 0pt 1.95pt; orphans: 0; widows: 0;"><font style="font-family: 'Century Gothic'; font-size: 8pt;">The highest and lowest individual compensation were received by members who held the position for 12 months</font></p>
</td>
</tr>

</table>
</div>
<br>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.12. - <b style="mso-bidi-font-weight: normal;"><font style="font-size: 9.0pt; mso-bidi-font-size: 11.0pt; line-height: 107%; font-family: 'Century Gothic',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: PT-BR; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Agreements, insurance policies or other instruments that provide for management compensation or indemnification mechanisms in the event of removal from position or retirement</font></b> </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">In addition to contributions to the FGTS system, Ultrapar in 2010 implemented a planned retirement policy that has been superseded by and replaced with the end-of-career policy reviewed by the People Committee on 04/20/2018 and amended on 08/10/2020. Its purpose is to prepare executives for severance and structure succession plans within the organization. Application of the policy is discretionary and the amount of the resulting post-retirement benefits consists in potential additional compensation upon termination at the company&#8217;s initiative equivalent to 0.5 to 1.0 monthly salary per year of employment with the company, up to a ceiling of nine monthly salaries. The condition precedent is a minimum of five years&#8217; engagement with the company and meeting the requirements for retirement via the INSS or </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultra Group</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&#8217;s supplementary pension scheme</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The company has in place liability policies for directors and officers (D&amp;O) to indemnify the members of the Board of Directors, of Fiscal Council, and Officers and executives of Ultrapar and its subsidiaries (&#8220;Insured Parties&#8221;) up to an upper limit of US$ 80 million, in exchange for an average annual premium of R$ </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4.6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> million</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">. </font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The policy covers indemnity for damages to third parties or to the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">C</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">ompany arising from action or omission associated with the Insured Parties&#8217; job performance, including any claims filed against them, even if the action, omission or claim arises from willful misconduct. Since 2018, the D&amp;O policy has also provided for reimbursement to Contracted Parties of fines and penalties in civil and administrative proceedings bargains, except where in connection with willful misconduct</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.13. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Percentage of the overall compensation payable to each body recognized in the Company&#8217;s results related to members of the Board of Directors or the Fiscal Council, or Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers who are related parties of the controlling shareholders</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Ultra S.A. is currently the main individual shareholder of the company, with approximately 25% of the shares issued by Ultrapar. Prior to&nbsp;Ultrapar&#8217;s migration to the Novo Mercado corporate governance segment, in 2011, Ultra S.A. was the Company&#8217;s controlling shareholder and, as such, executed the agreement for B3 Novo Mercado Listing on August 16, 2011, for the purposes of compliance with the Novo Mercado rules then in force.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The compensation of members of the Board of Directors, the only related parties with Ultra S.A., as percentage of the total compensation paid to these the bodies in question was 37% in 2019</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 35% in 2020</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and 48% in 2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.14. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Amounts recognized in the Company&#8217;s results as compensation of members of the Board of Directors, the Fiscal Council or Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers, grouped by corporate body, for any reason other than the respective positions held by such members</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Members of the Board of Directors or of the Fiscal Council, or Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Officers earned no compensation other than that associated with the positions held in the Company or its subsidiaries</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
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<br>
<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; text-align: justify;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.8pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.15. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Amounts recognized in the results of the Company&#8217;s direct or indirect controlling companies, companies under common control and subsidiaries, as compensation to the members of the Board of Directors, the Fiscal Council or Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers in 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">, 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> and 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The entire compensation of the Company&#8217;s Statutory</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Executive</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Officers has been paid by subsidiaries or controlled entities for the roles they play as managers thereof</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">The entire compensation of the Board of Directors and Fiscal Council is paid by the Company directly</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
<p style="font-size: 9pt; line-height: 120%; margin: 0pt 0pt 6pt 7.1pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<tr style="height: 8.8pt;">
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<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">- 2019</font></p>
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</tr>
<tr style="height: 27.95pt;">
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In thousands of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Companhia Ultragaz S.A.</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Empresa Carioca de Produtos Qu&#237;micos S.A.</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font><b>Ultracargo&nbsp;<br></b></font><font><b>Log&#237;stica&nbsp;S.A.</b></font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Imifarma Prod. Farm.&nbsp; Cosm&#233;ticos S</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font></p>
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<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
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</tr>
<tr style="height: 23.8pt;"></tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">738</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">737</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">888</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">018</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">744</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">390</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">517</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">128</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">940</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">697</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">363</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">156</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">948</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">233</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">889</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">148</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">70</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">338</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">226</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">673</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">721</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">648</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">191</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">584</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">249</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">215</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">610</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">485</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">127</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">455</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">236</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">109</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">761</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">485</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">127</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">455</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">236</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">109</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">761</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">10</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">092</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">386</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">235</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">175</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">51</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">941</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 22.95pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 14.05pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">881</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">612</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">472</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">70</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">979</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">015</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 12.55pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">17</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">198</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.25pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">864</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 50pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">344</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">961</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">100</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">182</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">38</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">650</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
</div>
</div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; height: 373.734px; width: 100%;" width="100%">

<tr style="height: 23px;">
<td colspan="9" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 524.5pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">- 2020</font></p>
</td>
</tr>
<tr style="height: 0px;">
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In thousands of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar Participa&#231;&#245;es S.A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Companhia Ultragaz S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Empresa Carioca de Produtos Qu&#237;micos S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font><b>Ultracargo&nbsp;<br>Log&#237;stica&nbsp;S.A.</b></font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Imifarma Prod. Farm.&nbsp; Cosm&#233;ticos S</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">A</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 32.7344px; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 32.7344px;"></tr>
<tr style="height: 36px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">592</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">486</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">739</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">888</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">261</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">816</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">256</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">040</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">229</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">034</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">325</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">697</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">811</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">320</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">813</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">12</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">230</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">301</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">230</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">64</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">228</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">239</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">194</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">258</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">061</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">221</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">350</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">191</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">222</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">256</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">248</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">550</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">218</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">577</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">949</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">237</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">439</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">936</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">967</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">218</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">577</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">949</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">237</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">439</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">936</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">967</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">16</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">326</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">677</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">159</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">296</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">212</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">161</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">92</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">598</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
</tr>
<tr style="height: 49px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 49px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 36px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">407</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">889</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">192</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">483</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">376</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">543</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 36px;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">892</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
</tr>
<tr style="height: 23px;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 67.2pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">896</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 60.4pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">111</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 49.6pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">177</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 48.8pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">126</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 57.5pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">396</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">290</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">859</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.5pt; height: 23px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">37</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">857</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
</tr>

</table>
<p style="font-size: 10pt; margin: 0pt;"><br></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr style="height: 27.95pt;">
<td colspan="8" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 524.5pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">- 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
</tr>
<tr style="height: 27.95pt;">
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In thousands of </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic; font-weight: bold;">Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">)</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultrapar Participa&#231;&#245;es S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Companhia Ultragaz S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ipiranga Produtos de Petr&#243;leo S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Empresa Carioca de Produtos Qu&#237;micos S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Oxiteno S.A. Ind&#250;stria e Com&#233;rcio</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Ultracargo Log&#237;stica S.A.</font></p>
</td>
<td rowspan="2" style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total</font></p>
</td>
</tr>
<tr style="height: 23.8pt;"></tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Annual fixed compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">067</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">557</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">392</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">882</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">119</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">665</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">684</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Salary</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">286</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">176</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">780</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">738</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">858</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">255</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">196</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Direct and indirect benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">492</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">134</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">230</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">94</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">133</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">086</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">188</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">246</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">380</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">143</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">167</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">276</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">402</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Variable compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">205</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">365</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">130</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">971</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">130</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">495</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Profit sharing</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">205</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">365</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">130</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">971</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">130</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">495</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">297</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Others</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
</td>
</tr>
<tr style="height: 8.5pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Post-retirement benefits</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">617</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">118</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">212</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">168</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">143</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">260</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
</tr>
<tr style="height: 22.95pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Benefits due to the interruption in the exercise of the position</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">978</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">978</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font></p>
</td>
</tr>
<tr style="height: 14.05pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; width: 70.9pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Stock-based compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">124</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">112</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">787</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">725</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">311</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">2</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">14</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">061</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
</td>
</tr>
<tr style="height: 12.55pt;">
<td style="background-color: #ffffff; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.9pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total compensation</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 85.05pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">28</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">992</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">8</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 63.8pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">153</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 77.95pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">522</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 70.85pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">853</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">9</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">3</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">143</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">7</font></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 56.7pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">4</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">615</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">5</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 42.55pt; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 9pt; line-height: 108%; margin: 0pt 0pt 8pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">49</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">282</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">0</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><br></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">13.16. - </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Other information deemed relevant by the issuer</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Pursuant to </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">CVM/SEP&#8217;s </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Of&#237;cio Circular</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> of 2022</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, as of 2020 we ceased to report social charges paid by employer as manager compensation information. We provide, next, the amount of these charges in 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (forecast), 202</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, 20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">20</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and 201</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:&nbsp; &nbsp;&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The numbers are in thousands of Reais</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Year</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Board of Directors</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Statutory </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Executive </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Officers</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Fiscal Council</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt; border: 1pt solid #000000;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Total of social charges</font></p>
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<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt;">
<p style="margin: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt; border: 0.5pt solid #a6a6a6;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2022 (</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">forecast</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">)</font></p>
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<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; border-top-color: #a6a6a6; border-top-style: solid; border-top-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">058</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
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<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; border-top-color: #a6a6a6; border-top-style: solid; border-top-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">507</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; border-top-color: #a6a6a6; border-top-style: solid; border-top-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">161</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="background-color: #d9d9d9; border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; border-top-color: #a6a6a6; border-top-style: solid; border-top-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">13</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">726</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
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<tr style="height: 19.5pt;">
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-left-color: #a6a6a6; border-left-style: solid; border-left-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2021</font></p>
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<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">003</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">3</font></p>
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<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">9</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">189</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
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<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">151</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
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<td style="background-color: #d9d9d9; border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">11</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">344</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">0</font></p>
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<tr style="height: 19.5pt;">
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-left-color: #a6a6a6; border-left-style: solid; border-left-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2020</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">861</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">572</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">133</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="background-color: #d9d9d9; border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">568</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font></p>
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</tr>
<tr style="height: 19.5pt;">
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-left-color: #a6a6a6; border-left-style: solid; border-left-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">2019</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 84pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">551</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">8</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">6</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">241</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">2</font></p>
</td>
<td style="border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 83pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">125</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">4</font></p>
</td>
<td style="background-color: #d9d9d9; border-bottom-color: #a6a6a6; border-bottom-style: solid; border-bottom-width: 0.5pt; border-right-color: #a6a6a6; border-right-style: solid; border-right-width: 0.5pt; padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 86pt;">
<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">7</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">918</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">5</font></p>
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<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 108%; margin: 6pt 0pt 8pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The Company has no other information that it deems relevant to report</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;&nbsp;</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
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</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="width: 8.5in; margin: 0 auto;">
<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><img src="imgc96e640a9c6540bcb3d1.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></font></p>
<div style="line-height: 16.8pt; margin: 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" name="Bm1_Y5PBFFV18G00000000000000000000" class="customBookmark"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Power of Attorney</font></a></div>
<p style="line-height: 16.8pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Through the intermediary of this private instrument, [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">Shareholder</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">], [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">nationality</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">], [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">civil status</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">], [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">occupation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">], bearer of the identity document, number [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">&#8226;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">issuing entity</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">], resident and domiciled at [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">full address</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] or [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">legal entity duly incorporated in accordance with the laws of [&#8226;], with its head offices at [&#8226;], enrolled at the Taxpayer Register under number [&#8226;]</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] (&#8220;Principal&#8221;), nominates and constitutes as [his/</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">her</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/its</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">]</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> attorney-in-fact</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ANDR&#201; BRICKMANN ARENO</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">B</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">razilian, married, lawyer, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">national identity card RG nr. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">26.827.808-8, issued by SSP/SP, with </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">professional </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">identity card OAB/SP nr. 147926-1 and </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">enrolled at the Taxpayers Register CPF/ME under nr. </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">247.847.158-08</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">DENIZE SAMPAIO BICUDO</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, Brazilian, single, lawyer, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">national identity card RG nr. 32.308.230-0, issued by SSP/SP</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, professional </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">identity card OAB/SP nr. 239.515 and enrolled at the Taxpayers Register CPF</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/ME</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> under nr. 220.578.448-03; </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">TOMAS KIM</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, Brazilian, single, lawyer, national identity RG nr. 47.448.435-X, issued by SSP/SP, professional identity card OAB/SP under nr. 343.600 and enrolled at the Taxpayers Register CPF</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/ME</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> under nr</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 370.355.218-28; and </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ELISA MARIANO SILVA,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Brazilian, married, lawyer, </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">national identity card RG nr. 16.868.058, issued by SSP/MG, professional </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">identity card OAB/MG nr. 156.640, and enrolled at the Taxpayers Register CPF</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/ME</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> under nr</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 102.526.416-98 with powers, acting individually and independently of the order of nomination, to represent the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Principal</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> as holder of [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">&#8226;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] (</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">[</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">number of shares in words</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">]</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) common shares issued by </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">ULTRAPAR PARTICIPA&#199;&#213;ES S.A.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, a publicly-traded company registered in the corporate tax register (CNPJ</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">/ME</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">) under number 33.256.439/0001-39, with corporate headquarters at Brigadeiro Lu&#237;s Ant&#244;nio avenue, nr. 1</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">343, 9</font><font style="font-family: 'Century Gothic'; font-size: 6pt; vertical-align: super;">th</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> floor, in the City and State of S&#227;o Paulo (&#8220;Company&#8221;), in the Annual and Extraordinary General Shareholders&#8217; Meeting to be held at 2:00 p.m.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (Brazil time)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">, on </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">April,</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> 13, 2022, as a digital-only meeting, signing the Shareholders&#8217; Presence Register of the Company and the minutes of the Annual and Extraordinary General Shareholders&#8217; Meeting for the specific purpose of voting in strict conformity with the following guidance:&nbsp;</font></p>
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<p style="line-height: 16.8pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In Annual General Shareholders&#8217; Meeting:</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 3pt 14.2pt; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(1)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Analysis and approval of the report and accounts of the Management, as well as the financial</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">statements for the fiscal year ended on December 31, 2021, together with the report from the</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Independent Auditors and the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">report</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">from the Fiscal Council</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 3pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(2)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Allocation of the net income for the fiscal year ended on December 31, 2021</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 3pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(3)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Establishment of the Management&#8217;s global compensation</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(4)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> E</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">lection of the members of the Fiscal Council and their respective alternates given the request for installation of the Fiscal Council made by a shareholder representing more than 2% (two percent) of the voting shares issued by the Company, pursuant to Law 6,404/76 and CVM Instruction 324/00</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">:</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Effective</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Members</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Alternate</font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Members</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Fl&#225;vio Cesar Maia Luz</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">M&#225;rcio Augustus Ribeiro</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Geraldo </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Toffanello</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Pedro Ozires </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Predeus</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Nilson Martiniano Moreira</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">Sandra Regina de Oliveira</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 3pt 21.3pt; text-align: justify; text-indent: -21.3pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(5)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Establishment of the compensation of the members of the Fiscal Council for the term of office that begins in April 2022.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="line-height: 16.8pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In Extraordinary General Shareholders&#8217; Meeting:</font></p>
<p style="line-height: 16.8pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(1)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Change of the number of members that integrate the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(2)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Election of member of the Board of Directors</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 0pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(3)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Resolution on the following amendment to the Company&#8217;s Bylaws, as detailed in the Management Proposal disclosed to the market on this date:</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(a) change in the percentage of independent members of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors;</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;"> (b)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">change in the composition of the advisory committees of the Board of </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Directors;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(c)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">adaptation of the statutory devices applicable to the Audit and Risks Committee, in order to adapt it to the requirements of CVM Resolution 23/21; and</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">(d)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">reduction of the percentage of net income to be allocated to the payment of mandatory dividends to shareholders, with the consequent adjustment in the percentage to be allocated to the investment reserve.&nbsp;&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 4pt 0pt 9.6pt 14.2pt; text-align: justify; text-indent: -14.2pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(4)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Ratification on the change in the number of common shares into which the Company&#8217;s capital stock is divided due to the partial exercise of the rights conferred by the subscription warrants issued by the Company as of the approval of the merger of shares issued by </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Imifarma</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Produtos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Farmac&#234;uticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> e </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Cosm&#233;ticos</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> S.A. by the Company, approved by the Extraordinary General Shareholders Meeting held on January 31, 2014</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Against</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Abstention</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[&nbsp; ]</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[&nbsp; ]</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">&nbsp;</font></p>
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<p style="font-size: 10pt; margin: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><br></font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt 0pt 3pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">(5)</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> Approval of the consolidation of the Bylaws, in order to reflect the changes proposed in the items above</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">.</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">In Favor</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Against</font></p>
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<p style="font-size: 9pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-weight: bold;">Abstention</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[&nbsp; ]</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[&nbsp; ]</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[&nbsp; ]</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; font-style: italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark with an X in the box of your choice above.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The attorneys-in-fact hereby nominated have no right or obligation whatsoever to take any other measures in the name of the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">Principal</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> not expressly provided for in this instrument or which are necessary to its exact fulfillment.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">This power of attorney, which may be delegated in full or partially, shall be valid for the </font><font style="font-family: 'Century Gothic'; font-size: 9pt;">aforementioned Annual</font><font style="font-family: 'Century Gothic'; font-size: 9pt;"> and Extraordinary General Shareholders&#8217; Meeting, whether installed upon the first convening notice or upon the second convening notice.&nbsp; &nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">The present instrument is valid until April 14, 2022.</font></p>
<p style="line-height: 16.8pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">day</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] [</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">m</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">onth</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">] 2022.</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">&nbsp;</font></p>
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<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: justify;"><font style="font-family: 'Century Gothic'; font-size: 9pt; text-decoration: underline;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 130%; margin: 0pt; text-align: center;"><font style="font-family: 'Century Gothic'; font-size: 9pt;">[</font><font style="background-color: #c0c0c0; font-family: 'Century Gothic'; font-size: 9pt;">Shareholder</font><font style="font-family: 'Century Gothic'; font-size: 9pt;">]</font></p>
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<div style="background-color: #ffffff; margin: 0px; text-indent: 0px; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" name="Bx2_BWUL15Z48W00000000000000000000" class="customBookmark"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></a></div>
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<p style="background-color: #ffffff; margin: 0pt; text-align: center;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">Annual General Meeting (AGM) - ULTRAPAR PARTICIPACOES S.A. to be held on 04/13/2022</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Shareholder's Name</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;">Shareholder's CNPJ or CPF</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">E-mail</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Instructions on how to cast your vote</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">This ballot for the Annual General Meeting (</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: Arial; font-size: 10pt;">AGM</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: Arial; font-size: 10pt;">) should be completed if the shareholder chooses to exercise their voting rights remotely pursuant to CVM Instruction 481/09. In this event, it is mandatory that the foregoing fields are completed with the name (or corporate name) in full of </font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">the shareholder and the Corporate or Individual number in the tax register (CNPJ/ME and CPF/ME </font><font style="font-family: Arial; font-size: 10pt;">respectively), as well as an e-mail address for eventual contact.</font></p>
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<td colspan="2" style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444.7pt; height: 82px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000;">
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; text-indent: 0.95pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For this voting ballot to be valid and the votes cast inclu</font><font style="font-family: Arial; font-size: 10pt;">ded in the quorum for the AGM, the following instructions should be followed:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">The fields of this ballot should be completed accordingly;</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Every page in this ballot should be initialed;</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; text-indent: 0.7pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">At the end, the shareholder or their legal representative(s), as the case may be and pursuant to&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">the prevailing legislation, should sign the ballot.</font></p>
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<td colspan="2" style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444.7pt; height: 46px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000;">
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Once the ballot and required documentation are received by the Company, the Company shall notify, within 3 (three) business days, the shareholder of their receipt and acceptance or request its correction, pursuant to CVM Instruction 481/09.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The ballot and</font><font style="font-family: Arial; font-size: 10pt;"> other substantiating documents shall be filed at the Company in up to 7 days prior to the date of the AGM, that is by April 6, 2022. Any ballots received by the Company after that date shall be disregarded.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: Arial; font-size: 10pt;">AEGM Manual</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: Arial; font-size: 10pt;">, sometimes referred to in this ballot, is available to the shareholders at the Company</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s corporate headquarters, in its website (ri.ultra.com.br) and the websites of the Securities and Exchange Commission </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">CVM (www.cvm.gov.br) and B3 S.A. </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Brasil, Bolsa, Balc</font><font style="font-family: Arial; font-size: 10pt;">&#227;</font><font style="font-family: Arial; font-size: 10pt;">o (www.b3.com.br).</font></p>
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<p style="background-color: #ffffff; line-height: 10.1pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">Instructions for sending your ballot, indicating the delivery process by sending it directly to </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">the Company or through a qualified service provider</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The shareholder choosing to exercise their voting rights remotely may:</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">A. Send the ballot directly to the Company</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For this purpose, they should submit the following documents:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; text-indent: 0.7pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Original copy of this ballot duly completed with every page initialed and signed at the end&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">according to the instructions for completion described above;</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Certified copy of the following documents:</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Individuals:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(i) ID card with the shareholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s photograph (RG, RNE (foreigner</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s ID), CNH (driver</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s license),&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">passport or ID issued by an officially recognized professional class);</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(ii) in the case of an</font><font style="font-family: Arial; font-size: 10pt;"> attorney-in-fact, ID document with a photograph of the same and a power of&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">attorney.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Legal entities:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(i) consolidated corporate bylaws or articles of association and corporate acts providing evidence&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">as to the powers to represent the shareholder (minutes</font><font style="font-family: Arial; font-size: 10pt;"> of election of the officers and/or power of&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">attorney);</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(ii) ID card with the representative</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s photograph (RG, RNE (foreigner</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s ID), CNH (driver</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s license),&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">passport or ID issued by an officially recognized professional class);</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(iii) in the case of an atto</font><font style="font-family: Arial; font-size: 10pt;">rney-in-fact, ID document with a photograph of the same and a power of&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">attorney.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Investment funds:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The shareholders constituted as investment funds shall deliver to the Company, within the term&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">stipulated under item (a) above:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(i) evidence of the capacity of a manager of the investment fund granted to an individual or legal&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">entity to represent it at the general meeting or who has granted powers to the attorney-in-fact;</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(ii) the corporate act of the manager, if a legal entity, gr</font><font style="font-family: Arial; font-size: 10pt;">anting powers to the representative to&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">participate in the general meeting or to whom the power-of-attorney has been granted; and</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(iii) should the representative or attorney-in-fact be a legal entity, the same documents as in line</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(ii) of this item relative</font><font style="font-family: Arial; font-size: 10pt;"> to them.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">B. Exercising voting rights through service providers</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The shareholder that chooses to exercise voting rights remotely through service providers shall contact their custodians or securities registry institution for the Company</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s shares, whether or not their shares are deposited with a central depositary, pursuant to compliance with their rules for transmission of the shareholder</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s voting instructions.</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">Annual General Meeting (AGM) - ULTRAPAR PARTICIPACOES S.A. to be held on 04/13/2022</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For further information, please see the AEGM Manual available in ri.ultra.com.br.</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">Postal and e-mail address to send the distance voting ballot, if the shareholder chooses to </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">deliver the document directly to the company / Instructions for meetings that allow electronic system's participation, when that is the case.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Address: Brigadeiro L</font><font style="font-family: Arial; font-size: 10pt;">u</font><font style="font-family: Arial; font-size: 10pt;">&#237;</font><font style="font-family: Arial; font-size: 10pt;">s Ant</font><font style="font-family: Arial; font-size: 10pt;">&#244;</font><font style="font-family: Arial; font-size: 10pt;">nio avenue, 1343, 8th floor, Bela Vista, CEP (zip code) 01317-910&nbsp;</font><font style="font-family: Arial; font-size: 10pt;">S</font><font style="font-family: Arial; font-size: 10pt;">&#227;</font><font style="font-family: Arial; font-size: 10pt;">o Paulo/SP </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Brazil</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">To the attention of the </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: Arial; font-size: 10pt;">Ger</font><font style="font-family: Arial; font-size: 10pt;">&#234;</font><font style="font-family: Arial; font-size: 10pt;">ncia de Rela</font><font style="font-family: Arial; font-size: 10pt;">&#231;&#245;</font><font style="font-family: Arial; font-size: 10pt;">es com Investidores</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(Investor Relations Department)</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">E-mail: </font><font style="font-family: Arial; font-size: 10pt;">Invest@ultra.com.br</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">If preferred, the shareholder may send electronic copies of this ballot and the documents to the</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Company</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s e-mail address by April 6, 2022.</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Indication of the institution hired by the company to provide the registrar service of </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">securi</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">ties, with name, physical and electronic address, contact person and phone number</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Banco Bradesco S.A</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Departamento de A</font><font style="font-family: Arial; font-size: 10pt;">&#231;&#245;</font><font style="font-family: Arial; font-size: 10pt;">es e Cust</font><font style="font-family: Arial; font-size: 10pt;">&#243;</font><font style="font-family: Arial; font-size: 10pt;">dia (Securities and Custody Department)</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">Address: N</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">&#250;</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">cleo Cidade de Deus, Yellow building, 2nd floor, Vila Yara, Osasco</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">CEP (zi</font><font style="font-family: Arial; font-size: 10pt;">p code) 06029-900</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Osasco/SP </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Brazil</font><br><font style="font-family: Arial; font-size: 10pt;">&nbsp;</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Shareholder service channels:</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Telephone: 0800 701-1616</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Business days from 8:00 a.m. to 5:00 p.m (BRT)</font></p>
<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">E-mail: </font><font style="font-family: Arial; font-size: 10pt;">dac.acecustodia@bradesco.com.br</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Resolutions concerning the Annual General Meeting (AGM)</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">1</font><font style="font-family: Arial; font-size: 10pt;">. Analysis and approval of the report and accounts of the Management, as well as the financial statements for the fiscal year ended on December 31, 2021, together with the report from the Independent</font><font style="font-family: Arial; font-size: 10pt;"> Auditors and the opinion from the Fiscal Council</font></p>
<p style="background-color: #ffffff; line-height: 37.9pt; margin: 0pt 84pt 0pt 0pt; orphans: 0; text-align: justify; text-indent: 2.4pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain </font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444pt; height: 74px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 0.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">2. Allocation of the net income for the </font><font style="font-family: Arial; font-size: 10pt;">fiscal year ended on December 31, 2021</font><br><font style="font-family: Arial; font-size: 10pt;">&nbsp;</font></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 0.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">3. Establishment of the Management</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</font><font style="font-family: Arial; font-size: 10pt;">s global compensation</font><br><font style="font-family: Arial; font-size: 10pt;">&nbsp;</font></p>
<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt 39.1pt 0pt 0.5pt; orphans: 0; text-align: justify; text-indent: -0.5pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;">Election of the fiscal council by candidate - Total members to be elected: 3</font></p>
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<p style="background-color: #ffffff; line-height: 9.85pt; margin: 0pt 39.1pt 0pt 0.5pt; orphans: 0; text-align: justify; text-indent: -0.5pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">4. Nomination of candidates to the fiscal council (the shareholder may nominate as many candidates as there are seats to be filled in the general election).</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Fl</font><font style="font-family: Arial; font-size: 10pt;">&#225;</font><font style="font-family: Arial; font-size: 10pt;">vio Cesar Maia Luz / M</font><font style="font-family: Arial; font-size: 10pt;">&#225;</font><font style="font-family: Arial; font-size: 10pt;">rcio Augustus Ribeiro</font></p>
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<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 0.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Geraldo Toffanello / Pedro Ozires Predeus</font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444pt; height: 29px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000;">
<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 0.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444pt; height: 27px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000;">
<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Nilson Martiniano Moreira / Sandra Regina de Oliveira</font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444pt; height: 29px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000;">
<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 0.5pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444pt; height: 33px; border: 1pt solid #000000;">
<p style="background-color: #ffffff; line-height: 10.1pt; margin: 0pt 22.3pt 0pt 0.5pt; orphans: 0; text-align: justify; text-indent: -0.5pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">5. Considering the item above, the establishment of the compensation of the members of the Fiscal Council for the term of office that begins in April 2022.</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">Annual General Meeting (AGM) - ULTRAPAR PARTICIPACOES S.A. to be held on 04/13/2022</font></p>
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<p style="line-height: 0.05pt; margin: 0pt 0pt 13.45pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 1pt;">&nbsp;</font></p>
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<p style="background-color: #ffffff; margin: 0pt 0pt 0pt 1.45pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[&nbsp;&nbsp; ] Approve [&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain&nbsp;&nbsp;</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.15pt;">City :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<td style="background-color: #ffffff; padding-left: 2pt; padding-right: 2pt; vertical-align: middle; width: 444.95pt; height: 38px;">
<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.3pt;">Date :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">Signature :&nbsp;</font><font style="font-family: Arial; font-size: 10pt;"><font style="text-decoration: underline;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Shareholder's Name :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.25pt;">Phone Number :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<div style="margin: 5.75pt 1.8pt 0pt 5.1pt; orphans: 0; text-align: center; widows: 0;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" name="Bx3_IOR35D7PJ400000000000000000000" class="customBookmark"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></a></div>
<p style="margin: 9.35pt 5.05pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">Extraordinary General Meeting (EGM) - ULTRAPAR PARTICIPACOES S.A. to be held on&nbsp;</font><font style="font-family: Arial; font-size: 12pt; font-weight: bold; letter-spacing: -3.25pt;"> </font><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">04/13/2022</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 5pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 2.35pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Shareholder's Name&nbsp;</font></p>
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<p style="margin: 2.35pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Shareholder's CNPJ or CPF</font></p>
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<p style="margin: 2.35pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">E-mail</font></p>
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<p style="margin: 4.35pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Instructions on how to cast your vote</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 3.75pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">This ballot for the Extraordinary General Meeting (&#8220;EGM&#8221;) should be completed if the shareholder</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">chooses</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">exercise</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">their</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">voting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">rights</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">remotely</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">pursuant</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">CVM</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Instruction</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">481/09.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">In</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">this</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">event,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">it is mandatory that the foregoing fields are completed with the name (or corporate name) in full of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the shareholder and the Corporate or Individual </font><font style="font-family: Arial; font-size: 10pt;">number in the tax register</font><font style="font-family: Arial; font-size: 10pt;"> (CNPJ/ME and CPF/ME</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">respectively), as well as an e-mail address for eventual contact.</font></p>
<p style="margin: 0.15pt 3.9pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.05pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">this</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">voting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ballot</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">valid</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">votes</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">cast</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">included</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">quorum</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">for</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">EGM,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">following</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">instructions</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">should</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">followed:</font></p>
<p style="line-height: 9.5pt; margin: 0pt 3.9pt 0pt 17.75pt; orphans: 0; text-indent: -13.8pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">The fields of this ballot should be completed accordingly;</font></p>
<p style="line-height: 10pt; margin: 0pt 3.9pt 0pt 17.75pt; orphans: 0; text-indent: -13.8pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Every page in this ballot should be initialed;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.45pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">At</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">end,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholder</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">their</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">legal</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">representative(s),</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">as</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">case</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">may</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">pursuant</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.25pt;"> </font><font style="font-family: Arial; font-size: 10pt;">prevailing</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.25pt;"> </font><font style="font-family: Arial; font-size: 10pt;">legislation,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.3pt;"> </font><font style="font-family: Arial; font-size: 10pt;">should</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.25pt;"> </font><font style="font-family: Arial; font-size: 10pt;">sign</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.3pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.25pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ballot.</font></p>
<p style="margin: 0.2pt 3.9pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Once the ballot and required documentation are received by the Company, the Company shall</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">notify,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">within</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">3</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(three)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">business</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">days,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholder</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">their</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">receipt</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">acceptance</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">request</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">its</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">correction,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">pursuant</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">CVM</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Instruction</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">481/09.</font></p>
<p style="margin: 0.2pt 3.9pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.05pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ballot</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">other</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">substantiating</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">documents</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shall</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">filed</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">at</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Company</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">up</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">7</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">days</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">prior</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to the date of the </font><font style="font-family: Arial; font-size: 10pt;">EGM, that</font><font style="font-family: Arial; font-size: 10pt;"> is by April 6, 2022. Any ballots received by the Company after that</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">date</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shall</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">disregarded.</font></p>
<p style="margin: 0.2pt 3.9pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The &#8220;AEGM Manual&#8221;, sometimes referred to in this ballot, is available to the shareholders at the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Company&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">corporate</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">headquarters,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">its</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">website</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(ri.ultra.com.br)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">websites</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Securities and Exchange Commission &#8211; CVM (www.cvm.gov.br) and B3 S.A. &#8211; </font><font style="font-family: Arial; font-size: 10pt;">Brasil</font><font style="font-family: Arial; font-size: 10pt;">, </font><font style="font-family: Arial; font-size: 10pt;">Bolsa</font><font style="font-family: Arial; font-size: 10pt;">,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Balc&#227;o</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(www.b3.com.br).</font></p>
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<tr style="height: 364px;">
<td style="vertical-align: top; width: 444pt; height: 364px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 87%; margin: 5.55pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Instructions for sending your ballot, indicating the delivery process by sending it directly to</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">the Company or through a qualified service provider</font></p>
<p style="margin: 2.8pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The shareholder choosing to exercise their voting rights remotely may:</font></p>
<p style="line-height: 10.75pt; margin: 8.5pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">A. Send the ballot directly to the Company</font></p>
<p style="line-height: 10pt; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For this purpose, they should submit the following documents:</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.45pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Original</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">copy</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">this</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ballot</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">duly</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">completed</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">with</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">every</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">page</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">initialed</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">signed</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">at</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.2pt;"> </font><font style="font-family: Arial; font-size: 10pt;">end</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">according</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">instructions</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">for</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">completion</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">described</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">above;</font></p>
<p style="line-height: 10.25pt; margin: 0pt 3.9pt 0pt 17.75pt; orphans: 0; text-indent: -13.8pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">&#8226;&nbsp; &nbsp;</font><font style="font-family: Arial; font-size: 10pt;">Certified copy of the following documents:</font></p>
<p style="line-height: 10.75pt; margin: 8.5pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Individuals:</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.5pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">ID</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">card</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">with</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholder&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">photograph</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(RG,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">RNE</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(foreigner&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ID),</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">CNH</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(driver&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">license),</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">passport</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ID</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">issued</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">by</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">an</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">officially</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">recognized</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">professional</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">class);</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">case</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.5pt;"> </font><font style="font-family: Arial; font-size: 10pt;">an</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney-in-fact,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ID</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">document</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.5pt;"> </font><font style="font-family: Arial; font-size: 10pt;">with</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">a</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">photograph</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.5pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">same</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">a</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.5pt;"> </font><font style="font-family: Arial; font-size: 10pt;">power</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.45pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney.</font></p>
<p style="line-height: 10.75pt; margin: 8.75pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Legal entities:</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.45pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">consolidated corporate bylaws or articles of association and corporate acts providing evidence</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">as to the powers to represent the shareholder (minutes of election of the officers and/or power of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney);</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">ID card with the representative&#8217;s photograph (RG, RNE (foreigner&#8217;s ID), CNH (driver&#8217;s license),</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">passport</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ID</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">issued</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">by</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">an</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">officially</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">recognized</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">professional</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.15pt;"> </font><font style="font-family: Arial; font-size: 10pt;">class);</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt;"> the case of an attorney-in-fact, ID document with a photograph of the same and a power of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney.</font></p>
<p style="line-height: 10.75pt; margin: 8.75pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Investment funds:</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.5pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholders</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">constituted</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">as</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">investment</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">funds</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shall</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">deliver</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Company,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">within</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">term</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">stipulated</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">under</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">item</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">(a)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">above:</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">evidence</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">capacity</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">a</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">manager</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">investment</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">fund</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">granted</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">an</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">individual</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">legal</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">entity</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">represent</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">it</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">at</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">general</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">meeting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">who</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">has</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">granted</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">powers</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney-in-fact;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">corporate</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">act</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">manager,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">if</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">a</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">legal</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">entity,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">granting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">powers</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">representative</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.4pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">participate</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.3pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">general</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">meeting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">whom</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.3pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">power-of-attorney</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">has</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">been</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">granted;</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.35pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font></p>
<p style="line-height: 9.5pt; margin: 0pt 3.9pt 0pt 20.9pt; orphans: 0; text-indent: -16.95pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-style: normal; font-weight: normal;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: Arial; font-size: 10pt;">should</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">representative</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">or</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">attorney-in-fact</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">be</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">a</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">legal</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">entity,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">same</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">documents</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">as</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">line</font></p>
<p style="line-height: 10.75pt; margin: 0pt 3.9pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(ii)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">this</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">item</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">relative</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">them.</font></p>
<p style="line-height: 10.75pt; margin: 8.5pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">B. Exercising voting rights through service providers</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.45pt 3.9pt 0pt 4pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">The shareholder that chooses to exercise voting rights remotely through service providers shall</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">contact their custodians or securities registry institution for the Company&#8217;s shares, whether or not</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">their shares are deposited with a central depositary, pursuant to compliance with their rules for</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">transmission</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholder&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">voting</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">instructions.</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: normal;">&nbsp;</font></p>
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<p style="margin: 0.6pt 0.9pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 11pt; font-weight: bold;">Extraordinary General Meeting (EGM) - ULTRAPAR PARTICIPACOES S.A. to be held on</font><font style="font-family: Arial; font-size: 11pt; font-weight: bold; letter-spacing: -3.25pt;"> </font><font style="font-family: Arial; font-size: 11pt; font-weight: bold;">04/13/2022</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 13pt; font-weight: bold;">&nbsp;</font></p>
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<p style="margin: 4.35pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">transmission</font><font style="font-family: Arial; font-size: 10pt;"> of the shareholder&#8217;s voting instructions.</font></p>
<p style="margin: 8.5pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">For further information, please see the AEGM Manual available in ri.ultra.com.br.</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 5.55pt 8.4pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Postal and e-mail address to send the distance voting ballot, if the shareholder chooses to</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">deliver the document directly to the company / Instructions for meetings that allow</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">electronic system's participation, when that is the case.</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 4pt 13.2pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Address: </font><font style="font-family: Arial; font-size: 10pt;">Brigadeiro</font><font style="font-family: Arial; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Lu&#237;s</font><font style="font-family: Arial; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Ant&#244;nio</font><font style="font-family: Arial; font-size: 10pt;"> avenue, 1343, 8th floor, </font><font style="font-family: Arial; font-size: 10pt;">Bela</font><font style="font-family: Arial; font-size: 10pt;"> Vista, CEP (zip code) 01317-910</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">S&#227;o Paulo/SP &#8211; Brazil</font></p>
<p style="font-size: 11pt; line-height: 87%; margin: 0pt 10.85pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">To the attention of the &#8220;</font><font style="font-family: Arial; font-size: 10pt;">Ger&#234;ncia</font><font style="font-family: Arial; font-size: 10pt;"> de </font><font style="font-family: Arial; font-size: 10pt;">Rela&#231;&#245;es</font><font style="font-family: Arial; font-size: 10pt;"> com </font><font style="font-family: Arial; font-size: 10pt;">Investidores</font><font style="font-family: Arial; font-size: 10pt;">&#8221; (Investor Relations Department)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">E-mail: </font><font style="font-family: Arial; font-size: 10pt;">Invest@ultra.com.br</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">If</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">preferred,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">shareholder</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">may</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">send</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">electronic</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">copies</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">this</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">ballot</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">documents</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Company&#8217;s</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">e-mail</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">address</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">by</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">April</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.55pt;"> </font><font style="font-family: Arial; font-size: 10pt;">6,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.6pt;"> </font><font style="font-family: Arial; font-size: 10pt;">2022.</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 5.55pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Indication of the institution hired by the company to provide the registrar service of</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">securities,</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">with</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">name,</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">physical</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">and</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">electronic</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">address,</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">contact</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">person</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">and</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">phone</font><font style="font-family: Arial; font-size: 10pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">number</font></p>
<p style="line-height: 10.75pt; margin: 2.8pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Banco</font><font style="font-family: Arial; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Bradesco</font><font style="font-family: Arial; font-size: 10pt;"> S.A</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0.45pt 88.3pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Departamento</font><font style="font-family: Arial; font-size: 10pt;"> de </font><font style="font-family: Arial; font-size: 10pt;">A&#231;&#245;es</font><font style="font-family: Arial; font-size: 10pt;"> e </font><font style="font-family: Arial; font-size: 10pt;">Cust&#243;dia</font><font style="font-family: Arial; font-size: 10pt;"> (Securities and Custody Department)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Address: </font><font style="font-family: Arial; font-size: 10pt;">N&#250;cleo</font><font style="font-family: Arial; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Cidade</font><font style="font-family: Arial; font-size: 10pt;"> de Deus, Yellow building, 2nd floor, Vila </font><font style="font-family: Arial; font-size: 10pt;">Yara</font><font style="font-family: Arial; font-size: 10pt;">, Osasco</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">CEP (zip code) 06029-900</font></p>
<p style="line-height: 10.25pt; margin: 0pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Osasco/SP &#8211; Brazil</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 9.75pt 303.95pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Shareholder service channels:</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Telephone: 0800 701-1616</font></p>
<p style="font-size: 11pt; line-height: 87%; margin: 0pt 222.65pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Business days from 8:00 a.m. to 5:00 </font><font style="font-family: Arial; font-size: 10pt;">p.m</font><font style="font-family: Arial; font-size: 10pt;"> (BRT).</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">E-mail: </font><font style="font-family: Arial; font-size: 10pt;">dac.acecustodia@bradesco.com.br</font></p>
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<p style="line-height: 10.15pt; margin: 2.35pt 0pt 0pt 2pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: bold;">Resolutions concerning the Extraordinary General Meeting (EGM)</font></p>
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<p style="margin: 8.35pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">1.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.75pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Change of the number of members that integrate the Board of Directors</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="margin: 8.35pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">2.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Election of member of the Board of Directors</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<td style="vertical-align: top; width: 444pt; height: 93px; border-left-width: 1pt; border-left-style: solid; border-left-color: #000000; border-right-width: 1pt; border-right-style: solid; border-right-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 2.85pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">3.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Resolution on the following amendment to the </font><font style="font-family: Arial; font-size: 10pt;">Companys</font><font style="font-family: Arial; font-size: 10pt;"> Bylaws, as detailed in the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Management Proposal disclosed to the market on this date:</font></p>
<p style="line-height: 30pt; margin: 0.3pt 86.1pt 0pt 6.75pt; orphans: 0; text-indent: -2.8pt; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(a) change in the percentage of independent members of the Board of Directors</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Reject [</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Abstain</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 2.85pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">4.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Resolution on the following amendment to the </font><font style="font-family: Arial; font-size: 10pt;">Companys</font><font style="font-family: Arial; font-size: 10pt;"> Bylaws, as detailed in the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Management Proposal disclosed to the market on this date:</font></p>
<p style="margin: 8.8pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(b)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.95pt;"> </font><font style="font-family: Arial; font-size: 10pt;">change in the composition of the advisory committees of the Board of Directors</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 2.85pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">5.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Resolution on the following amendment to the </font><font style="font-family: Arial; font-size: 10pt;">Companys</font><font style="font-family: Arial; font-size: 10pt;"> Bylaws, as detailed in the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Management Proposal disclosed to the market on this date:</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(c)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 1.85pt;"> </font><font style="font-family: Arial; font-size: 10pt;">adaptation</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.1pt;"> </font><font style="font-family: Arial; font-size: 10pt;">of</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">statutory</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">devices</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">applicable</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Audit</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">and</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Risks</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Committee,</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">in</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">order</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">to</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.65pt;"> </font><font style="font-family: Arial; font-size: 10pt;">adapt it to the requirements of CVM Resolution 23/21</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; font-weight: normal;">&nbsp;</font></p>
<p style="margin: 0.6pt 0.9pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold;">DISTANCE VOTING BALLOT</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: Arial; font-size: 11pt; font-weight: bold;">Extraordinary General Meeting (EGM) - ULTRAPAR PARTICIPACOES S.A. to be held on</font><font style="font-family: Arial; font-size: 11pt; font-weight: bold; letter-spacing: -3.25pt;"> </font><font style="font-family: Arial; font-size: 11pt; font-weight: bold;">04/13/2022</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 2.85pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">6.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Resolution on the following amendment to the </font><font style="font-family: Arial; font-size: 10pt;">Companys</font><font style="font-family: Arial; font-size: 10pt;"> Bylaws, as detailed in the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Management Proposal disclosed to the market on this date:</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 8.5pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 87%; margin: 0pt 2.65pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">(d)</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">reduction of the percentage of net income to be allocated to the payment of mandatory</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">dividends to shareholders, with the consequent adjustment in the percentage to be allocated to the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">investment reserve</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 0pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">7.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Ratification on the change in the number of common shares into which the Company&#8217;s capital</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">stock is divided due to the partial exercise of the rights conferred by the subscription warrants</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">issued by the Company as of the approval of the merger of shares issued by </font><font style="font-family: Arial; font-size: 10pt;">I</font><font style="font-family: Arial; font-size: 10pt;">mifarma</font><font style="font-family: Arial; font-size: 10pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Produtos</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Farmac&#234;uticos</font><font style="font-family: Arial; font-size: 10pt;"> e </font><font style="font-family: Arial; font-size: 10pt;">Cosm&#233;ticos</font><font style="font-family: Arial; font-size: 10pt;"> S.A. by the Company, approved by the Extraordinary General</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Shareholders Meeting held on January 31, 2014</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain</font></p>
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<p style="font-size: 10pt; line-height: 87%; margin: 9.55pt 8.4pt 0pt 4pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">8.</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 0.05pt;"> </font><font style="font-family: Arial; font-size: 10pt;">Approval of the consolidation of the Bylaws, in order to reflect the changes proposed in the</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: -2.7pt;"> </font><font style="font-family: Arial; font-size: 10pt;">items above</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 16pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 6.75pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">[</font><font style="font-family: Arial; font-size: 10pt; letter-spacing: 2.8pt;"> </font><font style="font-family: Arial; font-size: 10pt;">] Approve [&nbsp;&nbsp; ] Reject [&nbsp;&nbsp; ] Abstain&nbsp;</font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.15pt;">City :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.3pt;">Date :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.05pt;">Signature :&nbsp;</font><font style="font-family: Arial; font-size: 10pt;"><font style="text-decoration: underline;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt;">Shareholder's Name :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font></font></p>
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<p style="background-color: #ffffff; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: Arial; font-size: 10pt; letter-spacing: -0.25pt;">Phone Number :</font><font style="text-decoration: underline;"><font style="font-family: Arial; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font></font></p>
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<p style="font-size: 14pt; line-height: 115%; margin: 0pt 0pt 10pt;"><font style="font-family: 'times new roman', times; font-size: 12pt; font-weight: bold;">SIGNATURES</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: justify;"><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.&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 10pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Date: March 11, 2022&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font><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></font></font></p>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font><font>By: /s/ Rodrigo de Almeida&nbsp;Pizzinatto</font></font></font></font></p>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font><font>Name: Rodrigo de Almeida&nbsp;Pizzinatto</font></font></font></font></p>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font><font>Title: Chief Financial and Investor Relations Officer</font></font></font></font></p>
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<p style="font-size: 10pt; line-height: 115%; margin: 0pt 0pt 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 9pt; line-height: 115%; margin: 0pt 0pt 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">(</font><font style="font-style: italic;">Shareholders&#8217; Meeting Manual, Remote voting form &#8211; Annual General Shareholders&#8217; Meeting and Remote voting form &#8211; Extraordinary Shareholders&#8217; Meeting</font><font style="font-style: italic;">)&nbsp;&nbsp;</font></font></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
